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

Author

Listed:
  • Romualdas Ginevičius

    (Faculty of Engineering Management, Bialystok University of Technology, 15-351 Bialystok, Poland)

  • Roman Trishch

    (Faculty of Systems Control of Aircraft, National Aerospace University, 61-000 Kharkov, Ukraine)

  • Yuriy Bilan

    (Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland)

  • Marcin Lis

    (Faculty of Applied Sciences, WSB University, 41-300 Dąbrowa Górnicza, Poland)

  • Jan Pencik

    (Faculty of Civil Engineering, Institute of Building Structures, Brno University of Technology, 601-90 Brno, Czech Republic)

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.

Suggested Citation

  • Romualdas Ginevičius & Roman Trishch & Yuriy Bilan & Marcin Lis & Jan Pencik, 2022. "Assessment of the Economic Efficiency of Energy Development in the Industrial Sector of the European Union Area Countries," Energies, MDPI, vol. 15(9), pages 1-12, May.
    • Handle: RePEc:gam:jeners:v:15:y:2022:i:9:p:3322-:d:807553
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    References listed on IDEAS

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    Cited by:

    1. Yuriy Bilan & Serhiy Kozmenko & Inna Makarenko, 2023. "Recent Advances in the Energy Market Development: Current Challenges and Perspectives of Energy Crises in Academia," Energies, MDPI, vol. 16(5), pages 1-6, February.
    2. Armenia Androniceanu & Oana Matilda Sabie, 2022. "Overview of Green Energy as a Real Strategic Option for Sustainable Development," Energies, MDPI, vol. 15(22), pages 1-35, November.

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