Impact of the Energy Crisis on the Evolution of Electricity Production Structures in OECD-Europe
2nd International Conference on Smart Environment and Green Technologies, ICSEGT 2025, Baku, Azerbaijan, 29 - 30 May 2025, vol.1817 LNNS, pp.379-387, (Full Text)
- Publication Type: Conference Paper / Full Text
- Volume: 1817 LNNS
- Doi Number: 10.1007/978-3-032-16883-2_41
- City: Baku
- Country: Azerbaijan
- Page Numbers: pp.379-387
- Keywords: Electricity market, Energy crisis, Renewable energy sources, Ryabtsev index, Szalai index
- Azerbaijan State University of Economics (UNEC) Affiliated: Yes
Abstract
The main objective of this study is to test the hypothesis about the impact of the energy crisis on the change in the structure of electricity production in OECD-Europe (European countries members of the Organization for Economic Cooperation and Development). The originality of the article is that the Ryabtsev and Szalai indices were used to analyze the effect of the energy crisis on changes in the electricity production structure. EViews software was used to develop regression equations to check the impact of the energy crisis on the changes in the structure of electricity generation. The first equation reflects the dependence of the share of fossil fuels in net electricity production, and the second equation represents the dependence of the share of renewable energy sources in net electricity production in OECD-Europe on TTF gas prices and Brent oil prices. The study results show that the energy crisis only affected the energy market structure in OECD-Europe countries. Although green energy continued to grow during the crisis, the expected significant growth in green energy did not occur in this period.