SECURE - Security of Energy Considering its Uncertainty, Risk and Economic implications

The objective of this project is to develop a new tool aimed at evaluating EU’s vulnerability to the different risks which might affect energy supplies, in order to help optimising the Union’s energy risk mitigation strategies. The project will therefore consist of developing energy security indicators for all the energy sources in order to identify the risk factors and quantify EU’s exposure to volume and price risks in the short and long terms, including the value consumers give to supply security. Costs and benefits of energy security will be evaluated for different energy demand scenarios to help policy makers building the most appropriate institutional, political and industrial parades.

It is the task of EEG to investigate on the potential impact of renewable energy sources on the security of energy supply. In general higher costs of energy supply arise with an increased use of renewable energy sources. It is the aim of this task to estimate the costs of an increased security of supply induced by renewable energy sources. Therefore economic and technical data that characterises energy conversion with renewable energy sources at present are collected. In addition the role of technology learning of renewable energy technologies and the cost development of these technologies over time is considered. Additionally, EEG addresses the thematic of various possibilities of how to promote renewable energy sources effectively and efficiently are evaluated.