Strategic Monitor 2017 - Energy

The security of energy supplies is important for the general security of the European Union (EU). The definition of security of energy supply adopted in this thematic study corresponds to the one used by the International Energy Agency (IEA), namely “the uninterrupted availability of energy sources at an affordable price”, and is sometimes also referred to as energy security. 

The IEA makes a distinction between short- and long-term dimensions of security of energy supply. On the one hand, long term concerns are mainly about ensuring that investments are timely and in line with overall economic development and sustainability goals. On the other hand, short-term security of supply focuses on the ability of the energy system to react promptly to sudden changes within the supply-demand balance.

The definitions of security of energy supply include its operational, strategic and long-term aspects, but do not mention its geopolitical aspects, despite the fact that the latter are often (rightly or wrongly) the reason for adopting (more) policy measures.‍