Selection mechanism for regional energy security indicators

Introduction. Energy security issues are included in the agenda, which is determined by a crucial role of energy in economy and society. A specific methodology with a number of indicators could be applied to evaluate energy security. The methods developed so far can no longer provide an adequate picture of the security as they have become obsolete, increasingly biased, and currently unusable. Purpose. The study aims at developing a selection mechanism for indicators to evaluate the energy security of the region and prepare a list of these indicators. Materials and Methods. The work referred to such general scientific methods as analysis, synthesis, generalization, deduction, and systematization. An econometric modeling based selection mechanism is described. An indicator could be included in methodology if it influences economic security, given that energy security is an element of economic security and should ensure the achievement of its goals. The study used 2014–2022 data for 85 regions in the Russian Federation. Results. Literature overview revealed significant aspects of energy security, identified approaches to selection, and outlined the most common indicators used to evaluate the level of security. Correlation and regression analysis gave a list of 7 indicators that characterize the energy system, physical availability of resources, and environmental acceptability. Conclusions. The developed mechanism lowers the biased influence on the selection process, evaluates the validity of indicators, and excludes the insignificant ones. The study is intended for the government bodies in order to improve the evaluation of regional energy security and develop more efficient measures. Further research is supposed to expand the list of indicators by taking into account the aspect of affordability and various types of resources and develop the mechanism by including other economic security goals.