ENERGY POLICY MEASURES ADOPTED BY THE EU DUE TO THE WAR IN UKRAINE
Euroinfo, 2022, vol. 6, issue 2, 103-118
Against the background of the energy crisis caused by multiple factors (rapid economic recovery after the COVID-19pandemic, market and price liberalization, accelerating the transition to renewable resources) the war in Ukraine has intensified through its consequences (imposing sanctions on the Russian Federation in the energy trade field) the challenges for the EU's energy security, in particular due to rising energy prices due to a significant decline in the supply of fossil fuels. In this context, the IEA has adopted two 10-point plans for natural gas and crude oil, and at EUlevel, new measures have been implemented to increase the production and consumption of green hydrogen, but also to accelerate the development of renewable energy resources through the REPowerEU plan. The REPowerEU plan emphasizes the need to diversify the EU's external sources of supply in the field of natural gas, but also the imperative to increase energy efficiency (through savings), while highlighting the importance of renewable energy in the EU energy mix. All these goals of the European authorities have as deadline the year 2027 while the most appropriate measures to achieve them will be established at the level of the Member States in the short and medium term. In view of the above, this article examines the new priorities of the EU's energy agenda, while assessing the most relevant challenges to ensuring energy security, especially in the context of Green Deal implementation.
Keywords: energy transition; fossil resources; renewable resources; EU energy security (search for similar items in EconPapers)
JEL-codes: F00 F01 L70 L78 L79 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:6:y:2022:i:2:p:103-118
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