Comprehensive analysis of energy security indicators and measurement of their integrity

Abstract

The concept of energy security is recognized as a complex and highly context-dependent phenomenon, necessitating the development of diverse indicators for its measurement. While numerous studies examined composite energy security indicators and frameworks from various angles, including inconsistencies, measurement challenges, and methodological limitations, there exists a gap in the scientific literature concerning the evaluation of these indicators in terms of sustainability. Given the inherent connection between energy security and sustainable development goals, this study analysed and ranked composite energy security indicators and frameworks based on their integrity using the Bellagio Sustainability Assessment and Measurement Principles. In this assessment, 40 different composite indicators developed and used in recent years were selected and evaluated by an expert survey for ranking purposes. The results indicate that many energy security indicator sets are insufficient in capturing the entirety of changes in the energy market, economy, policy, international trade, and other external factors. Nevertheless, the abundance and variety of energy security assessment frameworks in the literature, coupled with the consideration of various dimensions, underscore the prevalence of an interdisciplinary approach to the problem. This underscores the understanding that energy security extends beyond only accessibility and affordability of energy resources. The findings of this research provide valuable insights for both the improvement of existing indicators and the development of new frameworks.