Towards Energy Security for the Twenty-First Century
Collins Ayoo
Abstract
Energy security is a goal that many countries are pursuing to ensure that their economies function without interruption and that their people have access to adequate, reliable and affordable supplies of modern and clean energy. It is a pressing concern because the demand for energy is growing rapidly due to robust economic expansion, population growth, new uses of energy and income growth, and yet the supplies of energy resources required to power these needs are finite and in most cases non-renewable. Furthermore, the production, transportation and utilization of energy are a major source of greenhouse gases that cause global warming and climate change. This chapter examines the multidimensional nature of energy security, presents some indicators that can be used to assess changes in energy security and outlines a range of policy measures that can be used to improve energy security. These include more investments in energy production and transmission; promotion of energy efficiency in various end-use sectors; modernization of the grid to enable the integration of renewables such as wind, solar and geothermal energy into the energy system; undertaking reforms in energy markets to attract private sector investment in energy production, increase competition, reduce wastage and lower costs to energy users and fostering greater international collaboration on energy issues and regional energy trade.