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Measuring Energy Supply Risks: A G7 Ranking

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  • Frondel, Manuel
  • Ritter, Nolan
  • Schmidt, Christoph M.

Abstract

The security of energy supply has again become a similarly hot topic as it was during the oil crises in the 1970s, not least due to the recent historical oil price peaks. In this paper, we analyze the energy security situation of the G7 countries using a statistical risk indicator and empirical energy data for the years 1978 through 2007. We find that Germany's energy supply risk has risen substantially since the oil price crises of the 1970s, whereas France has managed to reduce its risk dramatically, most notably through the deployment of nuclear power plants. As a result of the legally stipulated nuclear phase-out, Germany's supply risk can be expected to rise further and to approach the level of Italy. Due to its resource poverty, Italy has by far the highest energy supply risk among G7 countries.

Suggested Citation

  • Frondel, Manuel & Ritter, Nolan & Schmidt, Christoph M., 2009. "Measuring Energy Supply Risks: A G7 Ranking," Ruhr Economic Papers 104, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    • Handle: RePEc:zbw:rwirep:104
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    References listed on IDEAS

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    1. Grubb, Michael & Butler, Lucy & Twomey, Paul, 2006. "Diversity and security in UK electricity generation: The influence of low-carbon objectives," Energy Policy, Elsevier, vol. 34(18), pages 4050-4062, December.
    2. Frondel, Manuel & Kambeck, Rainer & Schmidt, Christoph M., 2007. "Hard coal subsidies: A never-ending story?," Energy Policy, Elsevier, vol. 35(7), pages 3807-3814, July.
    3. Manuel Frondel & Christoph M. Schmidt, 2009. "Am Tropf Russlands? Ein Konzept zur empirischen Messung von Energieversorgungssicherheit," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 10(1), pages 79-91, February.
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    Cited by:

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    6. Ren, Jingzheng & Sovacool, Benjamin K., 2014. "Quantifying, measuring, and strategizing energy security: Determining the most meaningful dimensions and metrics," Energy, Elsevier, vol. 76(C), pages 838-849.

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    More about this item

    Keywords

    Herfindahl Index; Energy Supply Risk Indicator;

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices

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