Abstract

Today the world economy is handling an economic crisis caused by the pandemic of a new coronavirus infection (COVID-19), announced by the WHO, as well as by fluctuations in the international energy market and by the development of “green energy”. The crisis, named the “2020 crisis”, is notable for the divergence of the sectoral dynamics of development, with a declining development trend in some industries and the rapid growth of others. The crisis is etymologically relevant to the energy sector, a sector which is important for the survival and specialization of the Russian Federation. This research is aimed at describing the status and highlighting the socioeconomic effects, constraints (economic and social risks), and “growth points” of the energy sector in the modern realities of the 2020 crisis. Methods. The method of in-depth interview was used. The need for studying expert opinion is based on the fundamental principles of implementation research, according to which the success of state sectoral policy depends on its perception and support by stakeholders. Top managers of energy enterprises acted as the experts (N = 10). The interviews were conducted in April 2020. The method of incremental approximation and coding (open and axial) were used for a high-quality discourse analysis. Results. The conducted study revealed divergence of sectoral dynamics of energy consumption, which is a translation of the immanent features of the 2020 crisis into the energy sector. The detected constraints are reserved development prerequisites of “green energy” and reduced investments in development programs. The potential “growth points” include intensified digitalization of the energy sector and the need for institutional changes in taxation in the energy sector, recognized by experts.

Highlights

  • Today the world economy is handling an economic crisis caused by the pandemic of a new coronavirus infection (COVID-19), announced by the WHO, as well as by fluctuations in the international energy market and by the development of “green energy” [1]

  • According to the Republic of Tatarstan (RT) Ministry of Industry and Trade, the regional energy system demonstrates the following time dynamics: an increasing growth of reliable and safe electrical power supplied to consumers; modernization of production facilities of the energy system and introduction of new capacities; development of alternative energy using RES, in particular, those based on wind energy [48]

  • Among the socioeconomic effects and constraints of the 2020 crisis, mentioned by the experts as a challenge and, at the same time, an action of the anti-crisis policy pursued by enterprises, a destructive potential is demonstrated by the reduced funding of the investment development programs

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Summary

Objectives

This research is aimed at describing the status and highlighting the socioeconomic effects, constraints, and “growth points” of the energy sector in the modern realities of the 2020 crisis

Methods
Results
Discussion
Conclusion
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