Return to coal or transition to green energy? The future of the energy sector in Europe in the context of the war in Ukraine

Abstract

The energy sector of the European Union was subjected to a systemic shock following the outbreak of the war in Ukraine. The desire of the Europeans to quickly give up energy dependence on the Russian Federation, until the time of the invasion the largest supplier of natural gas, oil and coal to the Union, sparked a global rush for resources, with repercussions felt across the planet. However, the war in Ukraine also represented a catalyst for accelerating the European Union's transition to renewable energy sources. The present paper aims to identify the consequences of the war in Ukraine on the European energy sector, both from the perspective of the decarbonization process and of ensuring energy security. The methods used are the case study and comparative analysis. The obtained results highlight the fact that the feared return to coal, expected by many as the only solution to ensure the immediate energy security of the European Union, did not take place, the investments in renewable energy sources made in recent years representing a real "lifeline" for Europe in the current context.