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Brazil, Russia, China, India, and the Republic of South Africa (BRICS) represent developing economies facing different energy and economic development challenges. The current study aims to predict energy consumption in BRICS at aggregate and disaggregate levels using the annual time series data set from 1992 to 2019 and to compare results obtained from a set of models. The time-series data are from the British Petroleum (BP-2019) Statistical Review of World Energy. The forecasting methodology bases on a novel Fractional-order Grey Model (FGM) with different order parameters. This study contributes to the literature by comparing the forecasting accuracy and the predictive ability of the with traditional ones, like standard and models. Moreover, it illustrates the view of BRICS’s nexus of energy consumption at aggregate and disaggregates levels using the latest available data set, which will provide a reliable and broader perspective. The Diebold-Mariano test results confirmed the equal predictive ability of for a specific range of order parameters and the model and the usefulness of both approaches for energy consumption efficient forecasting.

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Due to industrialization, urbanization, and rapid population increases, the worldwide energy demand is increasing daily. The need for energy meets limitations, and searching for new energy sources is crucial, particularly for European countries. Energy crises occur temporarily due to different circumstances and cause oil price fluctuations. The present study aims to identify circular economy (CE) determinants that conditionally increase/decrease energy use to remain sustainable. It focuses on the linkage between energy consumption the and circular economy in the European Union (EU) member states. In the econometric panel model specifications, two alternative endogenous variables are considered, i.e., total energy consumption and energy consumption from renewable sources. The results demonstrate that the selected CE indicators decreased the former and increased the latter. The data covered the period of 2010–2019. The significance of this study relies upon identifying the current level of CE implementation in the EU countries in the context of reducing total energy consumption and increasing the share of energy from renewable sources.