Open AccessThe Impact of European Environmental Policies on Energy Prices. Possible Solutions in the Black Sea Region
Author(s) -
Ioan-Cătălin Murărașu
Publication year - 2021
Publication title -
the romanian economic journal
Language(s) - English
Resource type - Journals
eISSN - 2286-2056
pISSN - 1454-4296
DOI - 10.24818/rej/2021/82/07
Subject(s) - renewable energy , context (archaeology) , energy mix , production (economics) , purchasing power , economics , european union , energy subsidies , business , subsidy , economy , natural resource economics , energy policy , market economy , electricity generation , power (physics) , international economics , microeconomics , macroeconomics , physics , quantum mechanics , electrical engineering , engineering , paleontology , biology
Even if in Europe the costs of the transition to a green economy are reflected in the final consumer’s billsand in the prices of finished products - an effect already felt in the Community - the necessity to clean upthe economy cannot be disputed. However, Europeans need to determine if the priority is to give upconventional energy or to develop the green energy production, because it is becoming increasingly clear thatthe two objectives cannot be achieved simultaneously without affecting the purchasing power of Europeans.Within this context, the study involves: a) the statistical analysis of the impact of the conventional energyovertaxation and the renewable energy subsidization on the average price charged by suppliers for finalconsumers on the Romanian market in the first three quarters of 2021 and b) to identify the correlationcoefficient between the spot price for energy on the Romanian market and the share of renewable energy inthe national mix for the same period. The objective of the research is to assess the costs paid by the finalconsumers within the context of the energy transition and the production capacity of renewable sources thatmust be added to the National Energy System for their amortization. The results show the importance ofthe Black Sea basin in the regional energy equation and its potential to become a point of attraction forEuropean energy investments.