The Dilemma of the European Integration Principle—Ensuring Energy Independence of the European Union

Adriana Veronica Litră, Eliza Nichifor, Ioana Bianca Chiţu, Alexandra Zamfirache () and Gabriel Brătucu
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Adriana Veronica Litră: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500068 Brașov, Romania
Eliza Nichifor: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500068 Brașov, Romania
Ioana Bianca Chiţu: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500068 Brașov, Romania
Alexandra Zamfirache: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500068 Brașov, Romania
Gabriel Brătucu: Faculty of Economic Sciences and Business Administration, Transilvania University of Brașov, 500068 Brașov, Romania

Sustainability, 2023, vol. 15, issue 21, 1-19

Abstract: The European Union’s energy policy confronts the intricate challenge of achieving energy independence through integration and transition, necessitating a careful calibration of its implementation scale. Recognizing that the heightened energy dependence represents a threat to the economic convergence and cohesion of the member states, the authors adopted a comprehensive approach to scrutinizing the energy landscape. The study examines the orientation toward renewable energy sources, encompassing their utilization in both transportation and household electricity supply. Leveraging a combination of statistical and econometric methodologies, the researchers analyzed the EU’s energy composition, evaluating its far-reaching impact on both micro- and macroeconomic dimensions. Beginning with the central endogenous variable of the study, dependence on imports, the research extends to the assessment of gross available energy. Through rigorous examination, the authors underscored the pivotal role of renewable fuels in final energy consumption and demonstrated the influence of green energy sources on household consumption. This investigation, complemented by the section of the ARIMA model for electricity price modeling, not only elucidated the dilemma but also presented renewable energy sources as a viable solution to curtail the European Union’s dependence on energy imports, even in their current underutilized state.

Keywords: energy independence; the European energy market; the European Green Deal; renewable energy; solar energy in the field of transport; energy mix (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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