Importance Insufficient investment resources entail negative implications for the national economy. Scarce finance of the national power engineering is one of such issues. It may hinder the pace of energy capacity renewal and cause a lack of energy, which will undermine the national energy security. Objectives The research is an attempt to develop the theory and practice of evaluating strategic threats to Russia’s energy security. Methods The research relies upon general scientific methods of analysis and synthesis, formalized methods for modeling the operation of energy systems. As part of the research, we applied the macroeconomic model designed by the Melentiev Energy Systems Institute, which describes dynamic relationship among twenty five sectors of the economy. Results We unravel the mechanism reflecting the way a lack of investment influences the national energy security, quantify macroeconomic implications caused by a 5–15 percent decrease in investment. We also analyzed consequences of energy supply cuts due to insufficient investment in the energy and fuel sector. Conclusions and Relevance A lack of investment poses a serious strategic threat to the national energy security. Therefore, to prevent such insufficiency of energy resources at the national level, it is necessary to undertake measures for encouraging investment in the economy and power engineering by improving the investment climate.
Keywords: energy, adaptivity, analysis, energy security
Energeticheskaya bezopasnost' Rossii: problemy i puti resheniya [Energy security in Russia: Problems and solutions]. Novosibirsk, SO RAN Publ., 2011, 198 p.
Kruyt B., Van Vuuren D.P., De Vries H.J.M., Groenenber H. Indicators for Energy Security. Energy Policy, 2009, vol. 37, iss. 6, pp. 2166–2181. URL: Link
Sovacool B.K. The Methodological Challenges of Creating a Comprehensive Energy Security Index. Energy Policy, 2012, vol. 48, pp. 835–840. URL: Link
Winzer Ch. Conceptualizing Energy Security. Energy Policy, 2012, vol. 46, pp 36–48. URL: Link
Jansen J.C., Seebregts A.J. Long-term Energy Services Security: What Is It and How Can It Be Measured and Valued? Energy Policy, 2010, vol. 38, iss. 2, pp. 1654–1664. URL: Link
Silvast A. Energy, Economics, and Performativity: Reviewing Theoretical Advances in Social Studies of Markets and Energy. Energy Research & Social Science, 2017, vol. 34, pp. 4–12. URL: Link
Korhonen J.M. Overcoming Scarcities Through Innovation: What Do Technologists Do When Faced with Constraints? Ecological Economics, 2018, vol. 145, pp. 115–125. URL: Link
Uri N.D. A Reconsideration of Effect of Energy Scarcity on Economic Growth. Energy, 1995, vol. 20, iss. 1, pp. 1–12. URL: Link00053-6
Nersesian R.L. Energy Economics: Markets, History and Policy. New York, Routledge, 2016, 628 p.
Melent'ev L.A. Sistemnye issledovaniya v energetike. Elementy teorii, napravleniya razvitiya [System research in power engineering. Theoretical aspects and development trends]. Moscow, Nauka Publ., 1979, 415 p.
Helm D. (Ed.) The New Energy Paradigm. New York, Oxford University Press, 2007, 518 p.
Gal'perova E.V., Kononov Yu.D., Mazurova O.V. Metody i modeli prognoznykh issledovanii vzaimosvyazei energetiki i ekonomiki [Methods and models of predictive studies into relationship of energy and economy]. Novosibirsk, Nauka Publ., 2009, 178 p.
Ershova N. Investment Climate in Russia and Challenges for Foreign Business: The Case of Japanese Companies. Journal of Eurasian Studies, 2017, vol. 8, iss. 2, pp. 151–160. URL: Link
Berezinskaya O. Investment Drought in the Russian Economy: Structural Characteristics and Turnaround Perspectives. Russian Journal of Economics, 2017, vol. 3, iss. 1, pp. 71–82. URL: Link
Hughes L. The Effects of Event Occurrence and Duration on Resilience and Adaptation in Energy Systems. Energy, 2015, vol. 84, pp. 443–454. URL: Link
Yanling Lin, Zhaohong Bie. Study on the Resilience of the Integrated Energy System. Energy Procedia, 2016, vol. 103, pp. 171–176. URL: Link
Molyneaux L., Wagner L., Froome C., Foster J. Resilience and Electricity Systems: A Comparative Analysis. Energy Policy, 2012, vol. 47, pp. 188–201. URL: Link
Roege P.E., Collier Z.A., Mancillas J. et al. Metrics for Energy Resilience. Energy Policy, 2014, vol. 72, pp. 249–256. URL: Link
Willis H.H., Loa K. Measuring the Resilience of Energy Distribution Systems. Santa Monica, RAND Corporation, 2015, 38 p.