Measuring the security of external energy supply in the European Union

Chloe Le Coq; Elena Paltseva

doi:10.1016/j.enpol.2009.05.069

Measuring the security of external energy supply in the European Union

Chloe Le Coq, Elena Paltseva

Department of Economics

162 Citations (Scopus)

Abstract

The security of energy supply is one of the main objectives of EU energy policy. In this paper, we introduce an index designed to evaluate the short-term risks associated with the external supply of energy to the EU Member States. It combines measures of energy import diversification, political risks of the supplying country, risk associated with energy transit, and the economic impact of a supply disruption. We construct separate indexes for three primary energy types, oil, gas and coal, and demonstrate that Member States’ levels of supply risk exposure differ across energies. Most other studies of this kind provide aggregate indexes combining different types of energy. Our results suggest that an aggregate approach could be misleading, at least for discussions of the short-term response to risks. We discuss the implications of our findings for the common energy policy.

Original language	English
Journal	Energy Policy
Volume	37
Issue number	11
Pages (from-to)	4474-4481
Number of pages	8
ISSN	0301-4215
DOIs	https://doi.org/10.1016/j.enpol.2009.05.069
Publication status	Published - 2009

Keywords

Faculty of Social Sciences
index
security of supply
supply risk

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1016/j.enpol.2009.05.069

Cite this

@article{46cca6309b8b11debc73000ea68e967b,

title = "Measuring the security of external energy supply in the European Union",

abstract = "The security of energy supply is one of the main objectives of EU energy policy. In this paper, we introduce an index designed to evaluate the short-term risks associated with the external supply of energy to the EU Member States. It combines measures of energy import diversification, political risks of the supplying country, risk associated with energy transit, and the economic impact of a supply disruption. We construct separate indexes for three primary energy types, oil, gas and coal, and demonstrate that Member States{\textquoteright} levels of supply risk exposure differ across energies. Most other studies of this kind provide aggregate indexes combining different types of energy. Our results suggest that an aggregate approach could be misleading, at least for discussions of the short-term response to risks. We discuss the implications of our findings for the common energy policy.",

keywords = "Faculty of Social Sciences, index, security of supply, supply risk",

author = "{Le Coq}, Chloe and Elena Paltseva",

note = "JEL classification: Q4, Q48, C8",

year = "2009",

doi = "10.1016/j.enpol.2009.05.069",

language = "English",

volume = "37",

pages = "4474--4481",

journal = "Energy Policy",

issn = "0301-4215",

publisher = "Elsevier",

number = "11",

}

TY - JOUR

T1 - Measuring the security of external energy supply in the European Union

AU - Le Coq, Chloe

AU - Paltseva, Elena

N1 - JEL classification: Q4, Q48, C8

PY - 2009

Y1 - 2009

N2 - The security of energy supply is one of the main objectives of EU energy policy. In this paper, we introduce an index designed to evaluate the short-term risks associated with the external supply of energy to the EU Member States. It combines measures of energy import diversification, political risks of the supplying country, risk associated with energy transit, and the economic impact of a supply disruption. We construct separate indexes for three primary energy types, oil, gas and coal, and demonstrate that Member States’ levels of supply risk exposure differ across energies. Most other studies of this kind provide aggregate indexes combining different types of energy. Our results suggest that an aggregate approach could be misleading, at least for discussions of the short-term response to risks. We discuss the implications of our findings for the common energy policy.

AB - The security of energy supply is one of the main objectives of EU energy policy. In this paper, we introduce an index designed to evaluate the short-term risks associated with the external supply of energy to the EU Member States. It combines measures of energy import diversification, political risks of the supplying country, risk associated with energy transit, and the economic impact of a supply disruption. We construct separate indexes for three primary energy types, oil, gas and coal, and demonstrate that Member States’ levels of supply risk exposure differ across energies. Most other studies of this kind provide aggregate indexes combining different types of energy. Our results suggest that an aggregate approach could be misleading, at least for discussions of the short-term response to risks. We discuss the implications of our findings for the common energy policy.

KW - Faculty of Social Sciences

KW - index

KW - security of supply

KW - supply risk

U2 - 10.1016/j.enpol.2009.05.069

DO - 10.1016/j.enpol.2009.05.069

M3 - Journal article

SN - 0301-4215

VL - 37

SP - 4474

EP - 4481

JO - Energy Policy

JF - Energy Policy

IS - 11

ER -

Measuring the security of external energy supply in the European Union

Abstract

Keywords

UN SDGs

Access to Document

Fingerprint

Cite this