Property valuation in energy companies

Abstract

Current valuation methodologies applied in practice do not have specific valuation methods for property valuation in economic infrastructure companies which would consider the specific features of activities and property of such companies; any guidelines or recommendations for analysis of energy sector entities in order to determine their market value are also not available. Lithuania has adopted and applies internationally approved property and business valuation methods and standards. However, some issues, such as contestability of the criteria, validation and compatibility of the methods, the possibility to increase the diversity of methods, as well as a more through approach to business specifics, to the valuated property and to the assessment of factors that affect the environment, remain relevant and must be considered in order to develop the methodological and organisational basis for valuation. The paper suggests methods which facilitate diverse approaches to the process of Research problem. Current valuation methodologies applied in practice do not have specific valuation methods for property valuation in economic infrastructure companies which would consider the specific features of activities and property of such companies; any guidelines or recommendations for analysis of energy sector entities in order to determine their market value are also not available. Lithuania has adopted and applies internationally approved property and business valuation methods and standards. However, some issues, such as contestability of the criteria, validation and compatibility of the methods, the possibility to increase the diversity of methods, as well as a more through approach to business specifics, to the valuated property and to the assessment of factors that affect the environment, remain relevant and must be considered in order to develop the methodological and organisational basis for valuation. The paper suggests methods which facilitate diverse approaches to the process of valuation in energy companies and which help to determine the factors which affect the value and their impact on the value in energy companies and which help to determine the factors which affect the value and their impact on the value.

Šiuo metu taikomos vertinimo metodikos nesiūlo vertinimo metodų, skirtų išimtinai ekonominės infrastruktūros įmonių turto vertinimui, atsižvelgiant į šių įmonių veiklos ir turto specifiką, nėra metodinių nurodymų ar rekomendacijų, kuriomis remiantis būtų atliekama energetikos objektų rinkos vertės analizė. Lietuvoje pripažįstami ir taikomi tarptautiniu mastu įteisinti turto ir verslo vertinimo metodai, standartai. Tačiau kriterijų ginčytinumas, pačių metodų taikymo pagrįstumas, jų suderinamumas, įvairesnių metodų taikymo galimybė ir išsamesnis požiūris į verslo specifiką, vertinamą turtą bei poveikio aplinkai veiksnių įvertinimą yra aktualūs klausimai, siekiant plėtoti metodologinius ir organizacinius vertinimo pagrindus. Darbe pasiūlyti metodai, leidžiantys įvairiapusiškai pažvelgti į energetikos sektoriaus įmonių vertinimo procesą, nustatyti vertę veikiančius veiksnius bei jų įtaką vertei.