Abstract
Energy markets play an important role in achieving sustainable development goals. The sector of energy has a huge impact on the environment, hence changes in it are the highest priority in the European Union. The process of shaping and developing the internal energy market plays an important role in improving the security of supply of energy resources for the entire union. It requires a number of political negotiations, strategic decisions regarding energy liberalization, in particular, the electricity and gas sectors, as well as the adoption of sectoral legislation. The aim of the conducted research is to estimate the level of development of energy markets in the EU countries and to indicate the position of Poland in comparison to other countries. The research was performed in several stages. The first phase consisted of selecting appropriate diagnostic variables that comprehensively describe energy markets in countries belonging to the European Union. The next stage was collecting data, subjecting them to standardization, and then, based on the agglomeration algorithm, the process of dividing into groups of similar countries was carried out. The research results can be used as guidelines for legal regulations being prepared in the energy sectors of all member states, which can be used for selected clusters comprising similar countries in terms of the development of energy markets.
Highlights
Forecasts by the International Energy Agency indicate that by 2040, global electricity demand will increase by 45% to 67%, driven mainly by China, India, and Southeast Asia.In addition, between 60% and 80% of primary energy will still come from fossil fuels
The conducted research is aimed at estimating the relative level of development of energy markets in the EU countries with the identification of groups of similar countries, which may constitute the basis for administrative decisions to create regional internal markets in the process of energy integration of the European Union countries
As a result of this analysis, it can be seen how diversified the member states are in terms of the diagnostic variables Z1 to Z9 characterizing the level of development of energy markets
Summary
Forecasts by the International Energy Agency indicate that by 2040, global electricity demand will increase by 45% to 67%, driven mainly by China, India, and Southeast Asia. Between 60% and 80% of primary energy will still come from fossil fuels. Coal consumption is expected to grow with rising demand in Asia, driven by electrification and economic development [1]. The European Union is and will continue to import energy resources and goods to a large extent from countries where strict emission limits and environmental standards do not apply. In 2018, the cost of importing fossil fuels to the EU amounted to EUR 400 billion, or 2.5% of the EU’s GDP. The largest share of imports is crude oil, followed by gas and coal [2]
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