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Measuring the security of external energy supply in the European Union

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  • Le Coq, Chloé
  • Paltseva, Elena

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.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 37 (2009)
Issue (Month): 11 (November)
Pages: 4474-4481

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Handle: RePEc:eee:enepol:v:37:y:2009:i:11:p:4474-4481

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Web page: http://www.elsevier.com/locate/enpol

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Keywords: Index Security of supply Supply risk;

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References

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  1. Juan Delgado & Hans W. Friederiszick & Lars-Hendrik Röller, . "Energy: choices for Europe," Blueprints, Bruegel, number 14, June.
  2. Gupta, Eshita, 2008. "Oil vulnerability index of oil-importing countries," Energy Policy, Elsevier, vol. 36(3), pages 1195-1211, March.
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Citations

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Cited by:
  1. Yusta, Jose M. & Correa, Gabriel J. & Lacal-Arántegui, Roberto, 2011. "Methodologies and applications for critical infrastructure protection: State-of-the-art," Energy Policy, Elsevier, vol. 39(10), pages 6100-6119, October.
  2. Hubbard, L.J. & Hubbard, Carmen, 2013. "Food security in the United Kingdom: External supply risks," Food Policy, Elsevier, vol. 43(C), pages 142-147.
  3. Jewell, Jessica & Cherp, Aleh & Riahi, Keywan, 2014. "Energy security under de-carbonization scenarios: An assessment framework and evaluation under different technology and policy choices," Energy Policy, Elsevier, vol. 65(C), pages 743-760.
  4. Le Coq, Chloe & Paltseva, Elena, 2012. "The EU-Russia Gas Relationship: a mutual dependency," SITE Working Paper Series 18, Stockholm Institute of Transition Economics, Stockholm School of Economics.
  5. Andaloro, Antonio P.F. & Salomone, Roberta & Ioppolo, Giuseppe & Andaloro, Laura, 2010. "Energy certification of buildings: A comparative analysis of progress towards implementation in European countries," Energy Policy, Elsevier, vol. 38(10), pages 5840-5866, October.
  6. Kratochvíl, Petr & Tichý, Lukáš, 2013. "EU and Russian discourse on energy relations," Energy Policy, Elsevier, vol. 56(C), pages 391-406.
  7. Frondel, Manuel & Schmidt, Christoph M., 2014. "A measure of a nation's physical energy supply risk," The Quarterly Review of Economics and Finance, Elsevier, vol. 54(2), pages 208-215.
  8. Xavier Labandeira & Baltazar Manzano, 2012. "Some Economic Aspects of Energy Security," European Research Studies Journal, European Research Studies Journal, vol. 0(Special I), pages 47-64.
  9. Silve, F. & Noel, P., 2010. "Cost Curves for Gas Supply Security: The Case of Bulgaria," Cambridge Working Papers in Economics 1056, Faculty of Economics, University of Cambridge.
  10. Prakash Loungani & Frederick L. Joutz & Gail Cohen, 2011. "Measuring Energy Security," IMF Working Papers 11/39, International Monetary Fund.
  11. repec:ntu:ntugeo:vol2-iss1-14-005 is not listed on IDEAS
  12. Maxim, Alexandru, 2014. "Sustainability assessment of electricity generation technologies using weighted multi-criteria decision analysis," Energy Policy, Elsevier, vol. 65(C), pages 284-297.
  13. Cohen, Gail & Joutz, Frederick & Loungani, Prakash, 2011. "Measuring energy security: Trends in the diversification of oil and natural gas supplies," Energy Policy, Elsevier, vol. 39(9), pages 4860-4869, September.

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