Assessment of the Economic Efficiency of Energy Development in the Industrial Sector of the European Union Area Countries

Romualdas Ginevičius, Roman Trishch, Yuriy Bilan, Marcin Lis and Jan Pencik
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Romualdas Ginevičius: Faculty of Engineering Management, Bialystok University of Technology, 15-351 Bialystok, Poland
Roman Trishch: Faculty of Systems Control of Aircraft, National Aerospace University, 61-000 Kharkov, Ukraine
Yuriy Bilan: Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland
Marcin Lis: Faculty of Applied Sciences, WSB University, 41-300 Dąbrowa Górnicza, Poland
Jan Pencik: Faculty of Civil Engineering, Institute of Building Structures, Brno University of Technology, 601-90 Brno, Czech Republic

Energies, 2022, vol. 15, issue 9, 1-12

Abstract: The European Union’s Green Deal emphasises the importance of improving the efficiency of the energy sector in its countries, which is why the issues involved are relevant in both scientific and practical terms. The article sets out the hypothesis that conveying the state of the economic efficiency of energy development by grades does not reflect the real situation. Instead of ranks, it is proposed to form homogeneous groups of some countries based on non-linear data normalisation instead of today’s universally used linearisation. Grouping the euro area countries in the European Union on the basis of the value of the cost-effectiveness indicator for the energy development of their industrial sector confirmed the appropriateness of the proposed method-ology. In this way, three groups of countries were formed according to the level of cost-effectiveness achieved. The proposed methodology for grouping countries is universal and can be used for international comparisons of any kind.

Keywords: economic efficiency; energy development; industrial sector; clustering (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: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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