THE EFFECTS OF THE EUROPEAN GREEN DEAL AGREEMENT ON THE ENERGY TRANSITION IN ROMANIA

Mihaela Ionescu ()
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Mihaela Ionescu: University of Oradea, Doctoral School of Economic Sciences, Oradea, Romania

Annals of Faculty of Economics, 2020, vol. 1, issue 1, 519-529

Abstract: In this article, the author present some aspects regarding the energy transition in Romania that are currently facing barriers in the reform of his energy market. While the European Union aims, by the European Green Deal, to decarbonise the economy by 2050, the countries of the European Union are struggling with dysfunctional energy markets and a high dependence on fossil fuels and nuclear energy. European Union states have made national commitments to achieve long-term greenhouse gas neutrality and are now adopting national laws to achieve this objective. EU countries have approved the goal of achieving climate neutrality by 2050, in accordance with the Paris Agreement. Energy production and use account for more than 75% of the EU's greenhouse gas emissions. At EU level, the target for reducing GHG emissions was set at 40% by 2030 compared to 1990 levels, in addition to a target of 32% for renewable energy and a target of 32.5% for improving energy efficiency. The increase in the price of carbon dioxide emissions has led to the collapse of coal production, so that 15 states of the European Union have adopted national plans for the total elimination of coal by 2050. Only four states including Romania are beginning to adopt the plans their national coal disposal. Coal replacement plans provide for the use of clean energy from renewable sources and natural gas. But the European Union states are dependent on the imports of natural gas which leads to the focus on increasing energy obtained from renewable sources.

Keywords: climate neutrality; energy transition; greenhouse gases; primary energy; The European Green Pact (search for similar items in EconPapers)
JEL-codes: Q43 (search for similar items in EconPapers)
Date: 2020
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