Abstract

The overall energy-intensity, that is the ratio of total primary energy required (TPE) to gross domestic product, has improved since 1973 in almost all Common Market countries except the two industrializing countries Greece and Portugal . Considering the statistical raw data, the average rate of im­ provement for EUR-121 was almost 2% per year between 1973 and 1983. Between 1983 and 1986, a period of stable or declining prices for fuels and of economic recovery, the energy conservation process seems to have slowed in almost all member countries and even reversed in five member countries (Figure 1 ). This change is quite similar to that of 1975 to 1979, when specific consumption stagnated three years after the first oil price shock. The changes in energy-intensity vary considerably among member coun­ tries and among sectors (Figure 1), and annual fluctuations are difficult to follow at first glance. These differences can be explained by various factors, such as different trends and levels of economic activity, different industrial production and energy consumption structures, variation of stocks, different weather, as well as genuine differences in energy-efficiency. Since all these factors influence the energy consumption of an economy, the change in overall energy-intensity is a weak indicator of the improvement of energy­ efficiency (in the sense that physical production or consumption can be kept

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