Abstract
This article provides an overview of the structure and utilization of the new EU member states (EU-13) energy consumption. During the analysis, it was determined which non-renewable energy carriers were replaced by renewables ones. The replacement of energy sources with each other was analyzed by means of a correlation matrix. Results indicated that coal was replaced by renewable energies in Poland, Czech Republic, Slovakia, Bulgaria and Cyprus. Furthermore, the renewables basically replaced oil in Malta and gas was replaced by renewables in Lithuania. In other countries the relation between renewables and non-renewables could not be detected. The structure of energy production in the EU countries were different due to the differences of natural endowments. The main goal of the European Union energy policy is to reduce the CO2 emission by decreasing the fossil fuel consumption and this finding new ways to replace traditional energy sources is of utmost importance.
Highlights
In recent decades, global economic growth was significant due to the low cost of natural resources used for production and transportation
The values of the correlation matrix (Table 1) showed that the growth of renewable energy was due to the decrease of nuclear energy (-0.9635), coal (-0.7692) and oil (0.7733)
Most countries were highly dependent on oil and natural gas
Summary
Global economic growth was significant due to the low cost of natural resources used for production and transportation. Only a few regions in the world are producing fossil fuels. The political situation in most of these regions is unstable. These regions are fairly uncertain sources of energy (Harangi-Rakos et al, 2017). With the growth of the world's population, energy consumption is significantly increasing, mainly in the fast-growing Asian and African regions, especially China, which has become the world's largest energy consumer (Li et al., 2017). In addition to growing production and the
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