Assessing the energy security of European countries in the resource and economic context

• Authors: Izabela Jonek-Kowalska

Abstracts

EN

Research background: In recent years, much attention in the literature has been paid to the economic and environmental conditions of energy development as a key sector for the development of national economies. The issue of availability of individual energy resources and related energy security is receding into the background, most often due to the strong globalization of economies and the associated assumption of free international flow of goods and services, and thus practically unlimited possibilities of buying on the international commodity markets and energy exchanges. Nevertheless, the importance of energy security increases significantly in crisis situations. Purpose of the article: Bearing in mind the circumstances indicated above, the main objective of this article is to assess the energy security of European countries carried out in the context of resource and economic conditions. Methods: The article proposes its own methodological approach to the assessment of energy security based on the analysis of the energy mixes of 32 European countries and the availability of their own internal energy sources. In the process of classifying the studied economies into homogeneous groups in terms of resource and economic determinants (GDP per capita), principal component analysis was used. Findings & value added: The theoretical and methodological added value of the article results from the development of the author's approach to the assessment of energy security using individual and aggregated energy sufficiency index. Empirical added value is related to the results of energy security assessment in European countries, which can be used in shaping energy policies. Therefore, most of the 32 European countries assessed have a low level of energy security, which is due to the dominant use of non-renewable energy resources in their energy mixes. Countries with a high level of energy security have their own non-renewable resources or use alternative energy carriers in the form of renewable sources, hydropower or nuclear energy.

Keywords

EN

energy sources and economic development; energy security; determinants of energy mixes

• Publisher: Instytut Badań Gospodarczych
• Journal: Oeconomia Copernicana
• Year: 2022
• Volume: 13
• Issue: 2
• Pages: 301-334

Dates

published

2022

Contributors

author

Izabela Jonek-Kowalska

• Silesian University of Technology

• https://orcid.org/0000000240064362

References

• Adams, E. K. M., & Apio, K. (2018). Renewable and non-renewable energy, re-gime type and economic growth. Renewable Energy, 125, 755?767. doi: 10.101 6/j.renene.2018.02.135.
• Adekoya, O. B., Oliyide, J. A., Yaya, O. O. S., & Al-Faryan, M. A., S. (2022). Does oil connect differently with prominent assets during war? Analysis of in-tra-day data during the Russia-Ukraine saga. Resources Policy, 77, 102728. doi: 10.1016/j.resourpol.2022.102728.
• Anderson, W. C. (2015). The challenges facing comprehensive energy policy. Strategic Planning for Energy and the Environment, 34(3), 72?80. doi: 10.1080 /10485236.2015.11090961.
• Balcerzak, A. P., & Pietrzak, M.B. (2016). Quality of institutions for knowledge-based economy within new institutional economics framework. Multiple crite-ria decision analysis for European countries in the Years 2000?2013. Econom-ics & Sociology, 9(4), 66?81. doi: 10.14254/2071-789X.2016/9-4/4.
• Bamati, N., & Raoofi, A. (2020). Development level and the impact of technolog-ical factor on renewable energy production. Renewable Energy, 151, 946?955, doi: 10.1016/j.renene.2019.09.005.
• Bashir, M. F., Ma, B., Shahzad, L., Liu, B., & Ruan, Q. (2021). China's quest for economic dominance and energy consumption: can Asian economies provide natural resources for the success of One Belt One Road? Managerial and Decision Economics, 42(3), 570?587. doi: 10.1002/mde.3255.
• Best, R. (2017). Switching towards coal or renewable energy? The effects of fi-nancial capital on energy transitions. Energy Economics, 63, pp. 75?83. doi: 10.10 16/j.eneco.2017.01.019.
• Bhat, M. Y., Sofi, A. A., & Sajith, S. (2022). Domino-effect of energy consump-tion and economic growth on environmental quality: role of green energy in G20 countries. Management of Environmental Quality, 33(3), 756?775. doi: 10.1108/MEQ-08-2021-0194.
• Blum, H., & Legey, L. F. L., (2012). The challenging economics of energy securi-ty: ensuring energy benefits in support to sustainable development. Energy Economics, 34(6), 1982?1989. doi: 10.1016/j.eneco.2012.08.013.
• Bocquillon, P., & Maltby, T. (2020). EU energy policy integration as embedded intergovernmentalism: the case of Energy Union governance. Journal of European Integration, 42(1), 39?57. doi: 10.1080/07036337.2019.1708339.
• Bor, Y. J., & Zhang, Z. (2010). Asian energy in the context of growing security and environmental concerns. Energy Economics, 32(1), S1?S2. doi: 10.1016/j.e neco.2010.07.004.
• Bürgin, A., & Oppermann, K. (2019). Introduction: special issue on EU-induced policy change in Turkey?s environment and energy policy. Turkish Studies, 20(4), 483?492. doi: 10.1080/14683849.2019.1613896.
• Cergibozan, R. (2022). Renewable energy sources as a solution for energy securi-ty risk: empirical evidence from OECD countries. Renewable Energy, 183, 617?626. doi: 10.1016/j.renene.2021.11.056.
• Chitedze, I., Nwedeh, C.C.N., Adeola, A., & Abonyi, D.C.C. (2021). An econo-metric analysis of electricity consumption and real sector performance in Ni-geria. International Journal of Energy Sector Management, 15(4), 855?873. doi: 10.1108/IJESM-04-2020-0003.
• Chomać-Pierzecka, E., Sobczak A., & Soboń, D. (2022). The potential and devel-opment of the geothermal energy market in Poland and the Baltic States?selected aspects. Energies, 15(11), 4142. doi: 10.3390/en15114142.
• Chovancová, J., & Tej, J. (2020). Decoupling economic growth from greenhouse gas emissions: the case of the energy sector in V4 countries. Equilibrium. Quarterly Journal of Economics and Economic Policy, 15(2), 235?251. doi: 10.24136/eq.2020.011.
• Cohen, G., Joutz, F., & Loungani, P. (2011). Measuring energy security: trends in the diversification of oil and natural gas supplies. Energy Policy, 39(9), 4860?4869. doi: 10.1016/j.enpol.2011.06.034.
• Constantine, C. (2005). China's conception of energy security: sources and inter-national impacts. Working Paper, Centre of International Relations, College of Interdisciplinary Studies at the University of British Columbia, 43.
• Davidson, N., Mariev, O., & Turkanova, S. (2021). Does income inequality matter for CO2 emissions in Russian regions? Equilibrium. Quarterly Journal of Economics and Economic Policy, 16(3), 533?551. doi: 10.24136/eq.2021.019.
• Destek, A., & Aslan, A. (2017). Renewable and non-renewable energy consump-tion and economic growth in emerging economies: evidence from bootstrap panel causality. Renewable Energy, 111, 757?763. doi: 10.1016/j.renene.201 7.05.008.
• Elbassoussy, A. (2019). European energy security dilemma: major challenges and confrontation strategies. Review of Economics and Political Science, 4(4), 321?343. doi: 10.1108/REPS-02-2019-0019.
• Emirmahmutoglu, F., Denaux, Z., Omay, T., & Kumar Tiwari, A. (2021). Regime dependent causality relationship between energy consumption and GDP growth: evidence from OECD countries. Applied Economics, 53(19), 2230?2241. doi: 10.1080/00036846.2020.1857330.
• Escribano Francés, G. (2011). Market or geopolitics? The Europeanization of EU's energy corridors. International Journal of Energy Sector Management, 5(1), 39?59. doi: 10.1108/17506221111120893.
• Fadly, D., & Fontes, F. (2019). Geographical proximity and renewable energy diffusion: an empirical approach. Energy Policy, 129, 422?435. doi: 10.1016/j.e npol.2019.02.034.
• Fahad, B. A., Iqbal, R., Ahmad, S., El-Affendi, M. A., & Kumar, P. (2022). Optimization of multidimensional energy security: an index based assessment. Energies, 15(11), 3929. doi: 10.3390/en15113929.
• Francés, G. E., Marín-Quemada, J. M., & González, E. S. M. (2013). RES and risk: renewable energy's contribution to energy security. A portfolio-based ap-proach. Renewable & Sustainable Energy Reviews,, 26, 549?559. doi: 10.1016/j.rser. 2013.06.015
• Gebhardt, G. (2009). A soft budget constraint explanation for the venture capital cycle. German Economic Review, 10(1), 71?90. doi: 10.1111/j.1468-0475.20 08.00442.x.
• Goh, T., & Ang, B. W. (2018). Quantifying CO2 emission reductions from renew-ables and nuclear energy ? some paradoxes. Energy Policy, 113, 651?662. doi: 10.1016/j.enpol.2017.11.019.
• Guivarch, C., & Monjon, S. (2017). Identifying the main uncertainty drivers of energy security in a low-carbon world: the case of Europe. Energy Economics, 64, 530?541. doi:10.1016/j.eneco.2016.04.007.
• Guivarch, C., Monjon, S., Rozenberg, J., & Vogt-Schilb, A. (2015). Would climate policy improve the European energy security? Climate Change Econom-ic, 6(2), 1?37. doi: 10.1142/S2010007815500086.
• Hainsch, K., Löffler, K., Burandt, T., Auer, H., Crespo del Granado, P., Pisciella, P., & Zwickl-Bernhar, S. (2022). Energy transition scenarios: what policies, societal attitudes, and technology developments will realize the EU Green Deal? Energy, 239(C), 122067. doi: 10.1016/j.energy.2021.122067.
• Hassan, A., Ibrahim, M., & Bala, A. J. (2021). On the pursuit of energy security: evidence from the nexus between clean energy stock price and energy security elements. International Journal of Sustainable Energy. Advance online publi-cation. doi: 10.1080/14786451.2021.1986043.
• Hofmann, S. C., & Staeger, U. (2019). Frame contestation and collective securitisation: the case of EU energy policy. West European Politics, 42(2), 323?345. doi: 10.1080/01402382.2018.1510197.
• Hotelling, H. (1933). Analysis of a complex of statistical variables into principal components. Journal of Educational Psychology, 24(6), 417?441. doi: 10.103 7/h0071325.
• Hotelling, H. (1936). Relations between two sets of variates. Biometrika, 28, 321?377.
• Johansson, B. (2013). Security aspects of future renewable energy systems?a short overview. Energy, 61, 598?605. doi: 10.1016/j.energy.2013.09.023.
• Jolliffe, I. T. (2002). Principal component analysis series. New York: Springer.
• Karaduman, H. A., & Gonel, F. (2016). Dirty industries? competitiveness in EU?s new members. World Journal of Science, Technology and Sustainable Development, 13(3), 224?233. doi: 10.1108/WJSTSD-02-2016-0016.
• Keypour, J., & Ahmadzada, U. (2022). Consolidating EU energy security by relying on energy de-politicisation. European Security, 31(1), 135?157. doi: 10.108 0/09662839.2021.1970538.
• Lange, P., Bornemann, B., & Burger, P. (2019). Sustainability impacts of govern-ance modes: insights from Swiss energy policy. Journal of Environmental Policy & Planning, 21(2), 174?187. doi: 10.1080/1523908X.2019.1566062.
• Lee, Ch.-Ch., Xing, W., & Lee Ch.-Ch. (2022). The impact of energy security on income inequality: the key role of economic development. Energy, 248, 123564. doi: 10.1016/j.energy.2022.123564.
• Li, T., Baležentis, T., Makutėnienė, D., Streimikiene, D., & Kriščiukaitienė, I., (2016a). Energy-related CO2 emission in European Union agriculture: driving forces and possibilities for reduction. Applied Energy, 180, 682?694. doi: 10.10 16/j.apenergy.2016.08.031.
• Li, T., Shi, X., & Yao, L. (2016b). Evaluating energy security of resource-poor economies: a modified principle component analysis approach. Energy Economics, 58, 211?221. doi: 10.1016/j.eneco.2016.07.001.
• Linas, M., Augutis, J., Krikštolaitis, R., Urbonas, R., Šarūnien?, I., & Kopustinskas, V. (2022). A framework to assess the resilience of energy sys-tems based on quantitative indicators. Energies, 15(11), 4040. doi: 10.3390/en1 5114040.
• Liu, X. (2021). The impact of renewable energy, trade, economic growth on CO2 emissions in China. International Journal of Environmental Studies, 78(4), 588?607. doi: 10.1080/00207233.2020.1834686.
• Loizou, E., Chatzitheodoridis, F., Michailidis, A., Tsakiri, M., & Theodossiou, G. (2015). Linkages of the energy sector in the Greek economy: an input-output approach. International Journal of Energy Sector Management, 9(3), 393?411. doi: 10.1108/IJESM-06-2013-0004.
• Ma, Y., Zhang, T., Qian, W., & Wei, D. (2022). Financial development, demo-graphic changes, and the growth of the non-hydro renewable energy Indus-try?an empirical test based on R&D and financing costs. Renewable Energy, 185, 217?229. doi: 10.1016/j.renene.2021.12.059.
• Merk, Ch., Rehdanza, K., & Schröder, C. (2019). How consumers trade off supply security and green electricity: evidence from Germany and Great Britain. Energy Economics, 84(1), 104528. doi: 10.1016/j.eneco.2019.104528.
• Morales-Lage, R., Bengochea-Morancho, A., Camarero, M., & da Martínez-Zarzoso, I., (2019). Club convergence of sectoral CO2 emissions in the Euro-pean Union. Energy Policy, 135, 111019. doi: 10.1016/j.enpol.2019.111019.
• Moshiri, S., & Daneshmand, A. (2020). How effective is government spending on environmental protection in a developing country? An empirical evidence from Iran. Journal of Economic Studies, 47(4), 789?803. doi:10.1108/JES-12-2018-0458.
• Novikau, A. (2021). What does energy security mean for energy-exporting coun-tries? A closer look at the Russian energy security strategy. Journal of Energy & Natural Resources Law, 39(1), 105?123. doi: 10.1080/02646811.2020.1794 108.
• Ostrowski, W. (2021). Russia, transition and Poland?s energy security: a retro-spective view. Journal of Contemporary Central and Eastern Europe, 29(2-3), 195?207. doi: 10.1080/25739638.2021.2007605.
• Ostrowski, W. (2022). The twenty years? crisis of European energy security: Cen-tral and Eastern Europe and the US. Geopolitics, 27(3), 875?897. doi: 10.1080/ 14650045.2020.1835863.
• Proedrou, F. (2019). Contesting Greek gas policy: geopolitical, energy and cli-mate considerations. International Spectator, 54(2), 87?101. doi: 10.1080/03932729 .2019.1576421.
• Proedrou, F. (2022). How energy security and geopolitics can upscale the Greek energy transition: a strategic framing approach. International Spectator, 57(2), 122?137. doi: 10.1080/03932729.2021.2014102.
• Prontera, A. (2021). The dismantling of renewable energy policy in Italy. Environmental Politics, 30(7), 1196?1216. doi: 10.1080/09644016.2020.18688 37.
• Ptak, M. (2009). The role of excise duty on energy carriers in Polish environmen-tal policy. Equilibrium. Quarterly Journal of Economics and Economic Policy, 3(2), 99?107. doi:10.12775/EQUIL.2009.024.
• Qureshia, A., Rizwan, M., S., Ahmad, G., R., & Ashraf, D. (2022). Russia?Ukraine war and systemic risk: who is taking the heat? Finance Research Let-ters, 48, 103036. doi: 10.1016/j.frl.2022.103036.
• Raghutla, C., & Chittedi, K.R. (2021). Financial development, energy consump-tion, technology, urbanization, economic output and carbon emissions nexus in BRICS countries: an empirical analysis. Management of Environmental Quality, 32(2), 290?307. doi: 10.1108/MEQ-02-2020-0035.
• Rečka, L., & Ščasnýa, M. (2018). Brown coal and nuclear energy deployment: effects on fuel-mix, carbon targets, and external costs in the Czech Republic up to 2050. Fuel, 216(15), 494?502. doi: 10.1016/j.fuel.2017.12.034.
• Redek, T., Domadenik, P., & Koman, M. (2020). Sustainable development goals in the EU and the challenges in their implementation. In V. Žabkar & T. Redek (Eds.). Challenges on the path toward sustainability in Europe. Bingley: Em-erald Publishing Limited, 11?29. doi: 10.1108/978-1-80043-972-620201003.
• Ruiz, M. A, & Koutronas, E. E. (2022). The impact of the Russian aggression against Ukraine on the Russia-EU trade. Journal of Policy Modeling. Advance online publication. doi: 10.1016/j.jpolmod.2022.06.004.
• Saidi, K., & Omri, A. (2020). Reducing CO2 emissions in OECD countries: do renewable and nuclear energy matter? Progress in Nuclear Energy, 126, 103425. doi: 10.1016/j.pnucene.2020.103425.
• Schmidt, T. S., Schmid, N., & Sewerin, S. (2019). Policy goals, partisanship and paradigmatic change in energy policy ? analyzing parliamentary discourse in Germany over 30 years. Climate Policy, 19(6), 771?786. doi: 10.1080/1469 3062.2019.1594667.
• Sever, S. D. (2019). Turkey?s nuclear energy policy in the context of environ-ment: a case of Europeanization? Turkish Studies, 20(4), 572?598. doi: 10.1080/1468 3849.2018.1500138.
• Sevim, C. (2016). Strategic trends and barriers for future energy policy. Energy Sources, Part B: Economics, Planning, and Policy, 11(8), 698?704. doi: 10.108 0/15567249.2013.766284.
• Simanaviciene, Z., Volochovic, A., & Cibinskiene, A. (2016). Features of energy saving potential in Lithuanian households. Equilibrium. Quarterly Journal of Economics and Economic Policy, 11(1), 145?157. doi: 10.12775/EQUIL.2016 .007.
• Solorio, I., & Jörgens, H. (2020). Contested energy transition? Europeanization and authority turns in EU renewable energy policy. Journal of European Integration, 42(1), 77?93 doi: 10.1080/07036337.2019.1708342.
• Sunny, S. A. (2017). Systemic emergence under transitional uncertainty: the dy-namic role of energy technology innovation. Kybernetes, 46(9), 1527?1541. doi: 10.1108/K-10-2016-0277.
• Taušová, M., Tauš, P., & Domaracká, L. (2022). Sustainable development accord-ing to resource productivity in the EU environmental policy context. Energies, 15(12), 4291. doi: 10.3390/en15124291.
• Thaler, P., & Pakalkaite, V. (2021). Governance through real-time compliance: the supranationalisation of European external energy policy. Journal of Euro-pean Public Policy, 28(2), 208?228. doi: 10.1080/13501763.2020.1712462.
• Tosun, J., & Mišić, M. (2020). Conferring authority in the European Union: citi-zens? policy priorities for the European Energy Union. Journal of European Integration, 42(1), 19?38. doi: 10.1080/07036337.2019.1708338.
• Trifonov, I., Trukhan, D., Koshlich, Y., Prasolov, V., & Ślusarczyk, B. (2021). Influence of the share of renewable energy sources on the level of energy se-curity in EECCA countries. Energies, 14(4), 903. doi: 10.3390/en14040903.
• Tröndle, T., Lilliestam, J., Marelli, S., & Pfenninger, S. (2020). Trade-offs be-tween geographic scale, cost, and infrastructure requirements for fully renew-able electricity in Europe. Joule, 4(9), 929?1948. doi: 10.1016/j.joule.2020.07.018.
• Trotta, G. (2020). Assessing energy efficiency improvements and related energy security and climate benefits in Finland: an ex post multi-sectoral decomposi-tion analysis. Energy Economics, 86, 104640. doi: 10.1016/j.eneco.2019.104 640.
• von Hippel, D., Suzuki, T., Williams, J. H., Savage, T., & Hayes, P. (2011). Ener-gy security and sustainability in Northeast Asia. Energy Policy, 39(11), 6719?6730.
• von Lucke, F. (2021). Principled pragmatism in climate policy? The EU and changing practices of climate justice. Political Geography, 86, 102355. doi: 10.1016/j.polgeo.2021.102355.
• Winzer, C. (2012). Conceptualizing energy security. Energy Policy, 46, 36?48. doi: 10.1016/j.enpol.2012.02.067.

Identifiers

DOI

10.24136/oc.2022.009

Biblioteka Nauki

19322538