When initiating and subsequently implementing activities in business areas, account is taken of risks the materialisation of which could contribute to the failure to achieve the strategic or operational objectives pursued, and which could adversely affect the ability of the organisation to ensure the operational continuity of both the national electricity system and PSE.
Identified risks are analysed and subject to systematic assessments in cooperation with risk owners. Risk management in each PE business area involves the systematic application of planned and coordinated measures, procedures and practices that reduce or eliminate the possibility of risk materialisation, to minimise the negative effects of their occurrence as well as to capitalise on their positive consequences.
Risk management activities, undertaken at the strategic and operational levels, are monitored. In accordance with PSE’s Risk Management Policy, this process covers all areas of the company’s operations.
PSE uses the Methodology for Risk Assessment at PSE S.A. and its subsidiaries, which is a fundamental document defining the conceptual and methodological basis used in the process of identifying, analysing and assessing risks of particular importance to PSE or the NPS.
The methodology and the accompanying tool solutions support, among others:
- identification of key risks associated with the functioning of the organisation, including, in particular, those relating to operating, maintenance and investment activities,
- assessment of identified risks, their quantification and presentation in the form of ranking,
- identifying cause-and-effect relationships and correlations between identified risks,
- determining the severity of the various types of causes leading to the materialisation of risks related to them,
- sensitivity analysis of risk parameters,
- identifying scenarios of catastrophic risks, i.e. risks with a very low probability of occurrence, yet with very large and severe consequences,
- ongoing monitoring of risks, including the monitoring of trends and providing synthetic management information on risks.
The process of identifying, assessing and monitoring of risks is supported by the risk monitoring system myRisk.On. It provides a knowledge base on the risks associated with PSE’s operations and the NPS.
At PSE, as part of the continuous improvement of organisational, process and technological solutions, initiatives are undertaken aimed both at improving the operational efficiency and security of the NPS and PSE, as well as reducing or managing risks more effectively.