If we go by the old saying that you can tell what the day will be like from the morning, domestic businesses dependent on movements in foreign stock markets can at least remove electricity prices from their list of concerns for 2023. Or can they? The global crisis has shown that many things we once considered predictable are anything but. One common denominator for this year, too, is considerable uncertainty, amid the ongoing war in Ukraine and the prospect of recession in a large part of the European economies.
On 1 January this year (a non-working day, a Sunday, when demand is low), electricity reached its lowest value of just €17 per megawatt-hour. This was the lowest price recorded on the same date since 2018. Forecasts through the end of 2023 are not unfavourable either.
Futures prices for electricity, gas and oil through the end of 2023 indicate that there will be no major price fluctuations and that prices will in no way reach the record levels seen last year.
Bloomberg Adria asked domestic business leaders from various sectors – manufacturing, food processing, metal processing, pharmaceuticals and construction – to share what they had put on their lists of concerns and expectations for the year ahead. Everyone expects some positive developments, but no one is completely optimistic. The energy crisis, of course, continues to pose challenges, as does the global environment.
Complacency Is Already a Thing of the Past in Business – Kosta Koteski, Deputy Chief Executive Officer of Replek
Given that uncertainty in global markets will continue in 2023, it is essential to make use of every available opportunity. In this regard, we are investing in increasing our competitiveness, introducing new technologies and innovative solutions that will improve sales and strengthen our market positions, while securing our exports as a way of reducing risks.
Complacency is already a thing of the past in business. We must constantly work on improvement and progress in every aspect of our operations, provide increasingly better service and place greater focus on every customer, while continuously investing in employee training and development.
The conditions in which the world will continue to operate next year are delicate and uncertain, and we must be flexible and adapt quickly. Our strategic decisions to date have proven successful, and we are ending the year with growth in both foreign and domestic markets. This is an additional motivation to continue in the same direction over the coming year.
Next year, we are planning even greater growth and further strengthening of the Replek brand. Our greatest priorities in the years ahead will be Replek’s progress and the wellbeing of our employees, shareholders and, of course, consumers.
Given the frequent changes in European Union regulations, where our products are present, it is extremely important for us to align with and adapt to these changes quickly. To achieve this, our company maintains continuous and excellent cooperation with the relevant institutions.
Text reproduced from mk.bloombergadria.com