Abstract
This article provides an overview of the structure and utilization of the new EU member states’ (EU-13) energy consumption. During the analysis, it was determined which non-renewable energy carriers were replaced by renewables ones. The replacement of energy sources with each other was analyzed by means of a correlation matrix. Results indicated that coal was replaced by renewable energies in Poland, Czech Republic, Slovakia, Bulgaria and Cyprus. Furthermore, renewables replaced oil in Malta and gas was replaced by renewables in Lithuania. In other countries, the relation between renewables and non-renewables could not be detected. The structure of energy production in the EU countries was different due to the differences of natural endowments. The main goal of the European Union energy policy is to reduce CO2 emission by decreasing fossil fuel consumption and finding new ways to replace traditional energy sources is of utmost importance.
| Original language | English |
|---|---|
| Pages (from-to) | 18 |
| Number of pages | 1 |
| Journal | Journal of Eastern European and Central Asian Research |
| Volume | 8 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 2021 |
Keywords
- Correlation matrix
- Energy consumption
- New EU member states
- Sankey diagram
ASJC Scopus subject areas
- Business and International Management
- Finance
- Economics and Econometrics
- Strategy and Management
- Organizational Behavior and Human Resource Management
- Marketing
