Analysis of the Energy Status in Romania from the Sustainable Development Perspective in the Current Geopolitical Context

Abstract

The current geopolitical context has brought an unprecedented energy crisis to the European energy market. The European Union has been forced to restrict its energy consumption and diversify its sources of supply due to its dependence on energy imports from Russia. We aim to analyze the dynamics of the main energy indicators in Romania from a sustainable perspective and to highlight through econometric modeling the vulnerabilities induced by the current geopolitical context and the energy price crisis in Romania. The used methods include literature review, analysis of energy consumption and allocation dynamics in the period 2010-2020 according to Eurostat reports as well as modelling techniques of consumption trends in order to identify a valid econometric model adapted to the sustainable development targets assumed by Romania. The results of the study are useful for national decision-makers in setting sustainable energy development policies for the period 2022-2030.

Keywords

• energy
• crisis
• econometric model
• sustainable development
• romania