Energy Security: New Threats and Solutions

Abstract

The article presents the conceptual features of energy security management under a radically changed context, increasing crisis phenomena, and threats of various natures. The authors substantiate the claim that energy security is a complex category, which expresses the ability of the fuel and energy complex of the region to supply the required amount and range of energy resources to the domestic market at stable and reasonable prices; to promptly mitigate unexpected fluctuations in demand for fuel and energy resources; and to ensure uninterrupted energy supply and energy carrier parameters in real time. Based on an analysis of scientific publications and practical energy security models, the authors developed theoretical provisions, methodological principles, and management tools for energy security that meet modern requirements. In particular, the authors developed the terminological apparatus and identified the types and forms of modern energy threats and risks. The authors analyzed the impact of structural shifts in the electric power industry on the cost of electricity. The authors proposed a set of measures to neutralize negative scenarios in the field of energy security, which had appeared because of geopolitical factors, structural changes in the economy, and high volatility in energy prices. In addition, the authors considered the impact of the transition to low-carbon energy production on energy security, and developed the organizational and technical concept of the energy transition, which aimed to provide energy systems and individual energy facilities with properties of self-protection from emerging threats. The results of the study are of practical interest in the development of regional energy policy, plans, and specific actions that aim to ensure energy security in a turbulent global environment. © 2023 by the authors.