Progress of the V4 Countries towards the EU’s Energy and Climate Targets in the Context of Energy Security Improvement

Abstract

Objective: The aim of the paper is to conduct an empirical verification of progress in implementing the provisions of the EU Energy Package and an attempt to assess this process in the context of the opportunities to boost energy security of V4 countries by increasing the share of renewable energy sources and reducing the energy intensity of GDP. 

Research Design & Methods: The diagnosis is based on the determination of a taxonomic measure using the Hellwig's multidimensional comparative analysis method.  Then, a linear grouping of objects is used based on changes in the value of indicators in order to prepare the ranking of EU member states. The indicators defined in the package related to the sustainable use of energy are adopted as the key for monitoring changes.

Findings: Taking into account all EU member states, V4 economies show an average pace in the implementation of the energy and climate package.

Implications & Recommendations: The discussion of the results obtained in the course of the conducted research may have an application value for the economic policy of the V4 countries

Contribution & Value Added: The article presents and organizes EU legal regulations and the results of own research based on taxonomic methods. Using a synthetic variable, the ranking of EU members and their classification, according to the level of studied indicators, is elaborated.