Publication detail

Assessment of the Economic Efficiency of Energy Development in the Industrial Sector of the European Union Area Countries

GINEVIČIUS, R. TRISHCH, R. BILAN, Y. LIS, M. PĚNČÍK, J.

Original Title

Assessment of the Economic Efficiency of Energy Development in the Industrial Sector of the European Union Area Countries

Type

journal article in Web of Science

Language

English

Original Abstract

The European Union's Green Deal emphasises the importance of improving the efficiency of the energy sector in its countries, which is why the issues involved are relevant in both scientific and practical terms. The article sets out the hypothesis that conveying the state of the economic efficiency of energy development by grades does not reflect the real situation. Instead of ranks, it is proposed to form homogeneous groups of some countries based on non-linear data normalisation instead of today's universally used linearisation. Grouping the euro area countries in the European Union on the basis of the value of the cost-effectiveness indicator for the energy development of their industrial sector confirmed the appropriateness of the proposed method-ology. In this way, three groups of countries were formed according to the level of cost-effectiveness achieved. The proposed methodology for grouping countries is universal and can be used for international comparisons of any kind.

Keywords

economic efficiency; energy development; industrial sector; clustering

Authors

GINEVIČIUS, R.; TRISHCH, R.; BILAN, Y.; LIS, M.; PĚNČÍK, J.

Released

2. 5. 2022

Publisher

MDPI

Location

BASEL

ISBN

1996-1073

Periodical

ENERGIES

Year of study

15

Number

9

State

Swiss Confederation

Pages from

1

Pages to

12

Pages count

12

URL

https://www.mdpi.com/1996-1073/15/9/3322

Full text in the Digital Library

http://hdl.handle.net/11012/204706

BibTex

@article{BUT178056,
  author="Romualdas {Ginevičius} and Roman {Trishch} and Yuriy {Bilan} and Marcin {Lis} and Jan {Pěnčík}",
  title="Assessment of the Economic Efficiency of Energy Development in the Industrial Sector of the European Union Area Countries",
  journal="ENERGIES",
  year="2022",
  volume="15",
  number="9",
  pages="1--12",
  doi="10.3390/en15093322",
  issn="1996-1073",
  url="https://www.mdpi.com/1996-1073/15/9/3322"
}