Abstract

The article studies the energy efficiency of the economy and determines the need to reform the energy sector of Ukraine and conditions of its adaptation to EU requirements. Annual energy consumption in the world is about 14 billion tons of fuel. This is mainly organic origin resources – coal, oil, natural gas – 82 %, nuclear power – 7 %, hydroelectric energy – 3%, wood – 7 % renewable energy and – 1 %. The economic development of any country in our time is determined not only by the number of extracted or consumed fuel and energy resources (FER), but the efficiency of their use – energy intensity of GDP, unit costs per unit of output. These figures are better in those countries which have established effective economic and legal mechanisms to encourage energy efficiency, which in turn stimulated the development of energy-saving technologies, equipment supply and services for energy efficiency. Analysis of international experience shows that Ukraine’s energy dependence can be reduced by: increasing production and consumption of domestic energy resources; increasing the efficiency of production, transportation and consumption of energy resources; diversification of energy imports and types of energy consumed. The study emphasizes that «energy is an important prerequisite for growth and development throughout the world, and despite the global financial crisis, demand for energy is growing steadily, particularly in the large economies of China, India and Brazil, developing countries. The authors provethat energy security is largely complicated by the fact that key energy resources are concentrated geopolitically. Most of the world’s oil and gas are found in several countries, some of which «are in a state of political turmoil and are not particularly friendly to US interests»(Gray F, 2010). The conclusions can be summarized that in the context of the main areas of research reducing risks to energy security of Ukraine are: energy efficiency economy (reduce unit cost of energy per unit of GDP); increase proved reserves and production of domestic energy resources; the transition from the use of expensive imported energy resources (oil, natural gas) to other fuels, especially domestic origin; opposition to fluctuations in energy prices (particularly by combating monopolization of the energy market, development of market infrastructure provisioning energy, preservation of state fuel and energy complex and the situation in the energy market); the development of the market principles of the electricity industry, promoting competition in this area.