The energy sector has been a pioneer in the use of information and communication technologies for many years, and has undergone enormous changes in recent years as a result of the transition resulting from the fourth industrial revolution. In the paper, we examine and analyse relevant studies and their findings in order to show the current status of research on three selected aspects of digitalisation in energy sector enterprises. The paper sheds light on the diverse drivers influencing the digitalisation processes of energy sector companies. It also provides an overview of business models that are or will soon be implemented in the energy sector thanks to opportunities offered by digitalisation in response to observed trends in the energy market. Finally, it illustrates open research challenges and future dilemmas related to various aspects of energy sector digitalisation. The paper was prepared using the critical literature review method. It covers a large volume of the most recent and relevant literature referring to the three major research areas mentioned above. The literature review allowed us to identify the drivers influencing the digitalisation of energy companies and distinguish between those specific to this sector and those relating to all businesses as a part of the more general phenomena of Industry 4.0 and Industry 5.0. We also show how the digitalisation-based business model innovation presented in the literature empowers new energy producers and consumers through business models. We have also identified the most frequently indicated challenges and dilemmas in the digitalisation of energy companies related to the risk of the destabilisation of the energy market due to decentralisation, new requirements placed on the competences of energy sector workers, the new culture of interaction between energy suppliers and consumers, and the digital security of data used in the energy system.