No abstract

The COVID-19 pandemic obliged the Romanian government to take drastic measures to contain the virus. More than this, they imposed the heaviest restrictions in the EU. For more than a month, during the lockdown period, everything stopped: schools and universities had only online classes, national and international flights and gatherings were forbidden, and many restrictions for travel were imposed. This paper analyzes the changes that occurred in electricity consumption linked with economic growth, during the pandemic, in Romania. For a better understanding of the correlations between gross domestic product (GDP) and electricity consumption (EC) in different economic contexts, the period 2008–2020 was divided into three series: the 2008–2012 financial crisis and the post-crisis recovery period, the 2013–2019 period of economic growth, and the Q1–Q3 2020 pandemic period. Using correlation coefficients and regression analysis, the authors found that the GDP decoupled from EC in the first period. The increase in GDP led to an increase in the consumption of electricity and the electricity produced from RESs in the second period. In Q3 2020, the real GDP is different from the calculated GDP, due to the pandemic. In Romania, the electricity consumption decreased within the first nine months of the pandemic due to the economic contraction. The electricity that comes from coal and hydropower plants suffered the biggest decrease. If the electricity that comes from NRESs can be adapted to the economic demands, the quantity of electricity that comes from RESs will be influenced by the climate conditions.

Energy imports and the transition to renewable energy sources are of critical importance in the current geopolitical context, which necessitates concrete actions to tackle the energy crisis at the European Union level. The study aims to explore the impact of imported non-renewable energy resources on the EU-27 economy. It examines the correlations and causal relationships between GDP, GVA, R&D investments, and energy imports from 2000 to 2021. Data normality was assessed using the Shapiro-Wilk test, while Pearson's test identified correlations between variables. Linear and multiple regression analyses were conducted to determine the effects of changes in independent variables on dependent variables. The study found a strong association between natural gas imports and GDP, with increases in GDP leading to a more than fourfold rise in imports. Furthermore, multiple regression analysis indicated that a 1% increase in R&D investments results in a 2.21% decrease in fossil fuel imports in 91.7% of cases. This suggests that R&D investments contribute to improved efficiency and the use of renewable energy sources.

No abstract

Energy imports and the transition to renewable energy sources are of critical importance in the current geopolitical context, which necessitates concrete actions to tackle the energy crisis at the European Union level. This study aimed to explore the impact of imported non-renewable energy resources on the EU-27 economy. It examined the correlations and causal relationships between the GDP, the GVA, R&D investments, and energy imports from 2000 to 2021. Data normality was assessed using the Shapiro–Wilk test, while Pearson’s test identified correlations between variables. Linear and multiple regression analyses were conducted to determine the effects of changes in independent variables on dependent variables. The study found a strong association between natural gas imports and the GDP, with increases in GDP leading to a more-than-fourfold rise in imports. Furthermore, a multiple regression analysis indicated that a 1% increase in R&D investments results in a 2.21% decrease in fossil fuel imports in 91.7% of cases. This suggests that R&D investments contribute to improved efficiency and the use of renewable energy sources.