Version 1
: Received: 1 August 2023 / Approved: 2 August 2023 / Online: 2 August 2023 (08:37:06 CEST)
How to cite:
Brizga, J.; Jørgensen, M.S.; Olesen, G.B.; Lekavicius, V. Energy Sufficiency policy approach to geopolitical risks and rising energy prices. Preprints2023, 2023080194. https://doi.org/10.20944/preprints202308.0194.v1
Brizga, J.; Jørgensen, M.S.; Olesen, G.B.; Lekavicius, V. Energy Sufficiency policy approach to geopolitical risks and rising energy prices. Preprints 2023, 2023080194. https://doi.org/10.20944/preprints202308.0194.v1
Brizga, J.; Jørgensen, M.S.; Olesen, G.B.; Lekavicius, V. Energy Sufficiency policy approach to geopolitical risks and rising energy prices. Preprints2023, 2023080194. https://doi.org/10.20944/preprints202308.0194.v1
APA Style
Brizga, J., Jørgensen, M.S., Olesen, G.B., & Lekavicius, V. (2023). Energy Sufficiency policy approach to geopolitical risks and rising energy prices. Preprints. https://doi.org/10.20944/preprints202308.0194.v1
Chicago/Turabian Style
Brizga, J., Gunnar Boye Olesen and Vidas Lekavicius. 2023 "Energy Sufficiency policy approach to geopolitical risks and rising energy prices" Preprints. https://doi.org/10.20944/preprints202308.0194.v1
Abstract
In 2021 an acute energy crisis inflicted severe damage on the global economy, leading to escalated prices for electricity, gas, and fuel. In order to shield individuals and businesses from the mounting energy expenses, governments have been compelled to implement policy measures, including tax reductions, price restrictions or discounts, and subsidies. This research paper examines these policy responses through the lens of energy sufficiency. Energy poverty poses a significant threat to social cohesion and support for climate-related initiatives. Therefore, it is imperative to employ compensatory measures. However, the design of such solutions must carefully consider the incentives to reduce energy consumption and associated carbon emissions. The findings of the analysis demonstrate that the escalation of energy costs holds promise for achieving energy sufficiency. Nevertheless, the government's response to the surge in energy prices and energy poverty falls short and lacks precision. Most of the policy changes primarily focus on regressive energy cost subsidies and nudging households away from fossil fuels, but they fail to generate the necessary impetus for achieving energy sufficiency, which involves the elimination of energy poverty and excessive energy consumption.
Keywords
sufficiency; energy crises; energy poverty; policy instruments
Subject
Environmental and Earth Sciences, Environmental Science
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
