Le Coq, Chloe () (Stockholm Institute of Transition Economics) Paltseva, Elena () (Department of Economics, Copenhagen University)
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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Publisher Info
Paper provided by Stockholm Institute of Transition Economics, Stockholm School of Economics in its series SITE Working Paper Series with number
2.
Length: 34 pages Date of creation: 22 May 2009 Date of revision: Handle: RePEc:hhs:hasite:0002
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Find related papers by JEL classification: C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy