Diversity and Changes in the Energy Balance in EU Countries

Tomasz Rokicki and Aleksandra Perkowska
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Tomasz Rokicki: Institute of Economics and Finance, Warsaw University of Life Sciences, 02-787 Warsaw, Poland
Aleksandra Perkowska: Institute of Economics and Finance, Warsaw University of Life Sciences, 02-787 Warsaw, Poland

Energies, 2021, vol. 14, issue 4, 1-19

Abstract: The main purpose of the paper was to present the energy balance in the EU countries. The specific objectives were to show the concentration and directions of changes in the demand, production, import, and export of energy in the EU countries, to determine the degree of variability (or stability) of these energy balance parameters, and to establish the correlation between the energy balance parameters and economic parameters. All members of the European Union were determinedly selected for research on 31 December 2018 (28 countries). The research period embraced the years 2004–2018. The sources of materials were the literature on the topic and data from Eurostat. Descriptive, tabular, and graphical methods, Gini coefficient, Lorenz curve, coefficient of variation, Pearson’s linear correlation coefficient, and constant-based dynamics indicators were used in the analysis and presentation of materials. It was determined that only the demand for energy and its import in EU countries were nearly related to the economic situation. In turn, exports and production were medium and weakly correlated. In these parameters, economic factors had a smaller impact than other factors, such as political development or the level of energy development in the country. It was also found that the EU countries’ energy imports were characterized by lower volatility than its exports. As a rule, the most significant stabilization in the given parameters occurred in countries with a stable economy, the so-called developed economies, while the most significant volatility was in developing countries. Energy security is of great importance in all EU countries.

Keywords: energy supplies; energy security; energy market; EU countries (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

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