A New Role for Unregulated Activities in the Regional Economic Power Industry

Abstract

A potential solution to the problem of attracting investment in the electric power industry, resulting from economic growth and regional restructuring, is to foster industrial entrepreneurship and create a more conducive environment for investment. This article examines the economic prerequisites, key areas of opportunity, and organizational conditions required to develop energy businesses in unregulated sectors as a means of diversification. The research draws on Russian and international studies on diversification and entrepreneurship in the energy sector, as well as expert insights from surveys and interviews with specialists from major Ural energy companies, including Rosseti Ural, T Plus, and Chelyabloblkommunenergo. This study explores various forms of sectoral diversification, focusing on integration strategies that broaden the scope of energy services in emerging market segments. Key areas include small-scale power generation, electrification, and energy demand management, all driven by cutting-edge scientific and technological advancements. The research highlights that state support for entrepreneurship is most effective in areas closely aligned with the core activities of energy companies, as well as in sectors that have a strong regional socio-economic impact. Theoretically, the study contributes to the field by identifying entrepreneurial opportunities in the electric power industry and examining the organizational and economic impacts of non-regulated activities. Practically, the study offers recommendations for industry stakeholders and regional authorities on how to regulate and stimulate entrepreneurship in the sector.