Long-term energy services security: What is it and how can it be measured and valued?
The paper reviews some recent approaches towards measuring the extent of long-term energy security and security externality valuation. It starts out to discuss the contextual connotations of notions of 'energy security' in medium to long-term time frames and reviews some indicators that have been proposed to quantify it. Special attention is paid to two of these approaches, which the authors helped to develop, i.e. diversity-based indices and the Supply/Demand Index. The paper takes issue with conventional welfare economic approaches that neglect: (i) the scope on the demand side for raising security and (ii) negative feedback mechanisms of socio-political impacts of international rent transfers in fossil fuels exporting countries. The concept of energy services security is proposed with a demand-side focus. This enables application of an integrated approach to gauge the resilience of a society to meet the needs of its population for energy services over longer timescales ahead from various interrelated perspectives. Propositions are made on the attribution of security externalities to the use of fossil fuels, policies, and suggestions for further improvements of measures for energy services security.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bolinger, Mark & Wiser, Ryan & Golove, William, 2006. "Accounting for fuel price risk when comparing renewable to gas-fired generation: the role of forward natural gas prices," Energy Policy, Elsevier, vol. 34(6), pages 706-720, April.
- Ruud de Mooij & Paul Tang, 2003. "Four futures of Europe," CPB Special Publication 49, CPB Netherlands Bureau for Economic Policy Analysis.
- Jeffrey D. Sachs & Andrew M. Warner, 1995.
"Natural Resource Abundance and Economic Growth,"
NBER Working Papers
5398, National Bureau of Economic Research, Inc.
- Collier, Paul, 2008. "The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It," OUP Catalogue, Oxford University Press, number 9780195374636, December.
- Segers, Reinoud, 2008. "Three options to calculate the percentage renewable energy: An example for a EU policy debate," Energy Policy, Elsevier, vol. 36(9), pages 3243-3248, September.
- Stirling, Andrew, 1994. "Diversity and ignorance in electricity supply investment : Addressing the solution rather than the problem," Energy Policy, Elsevier, vol. 22(3), pages 195-216, March.
- Grubb, Michael & Butler, Lucy & Twomey, Paul, 2006.
"Diversity and security in UK electricity generation: The influence of low-carbon objectives,"
Elsevier, vol. 34(18), pages 4050-4062, December.
- Grubb, M. & Butler, L. & Sinden, G., 2005. "Diversity and Security in UK Electricity Generation: The Influence of Low Carbon Objectives," Cambridge Working Papers in Economics 0511, Faculty of Economics, University of Cambridge.
When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:38:y:2010:i:4:p:1654-1664. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Shamier, Wendy)
If references are entirely missing, you can add them using this form.