THE TRANSFORMATION OF EU ENERGY POLICY IN THE CONTEXT OF IMPLEMENTING THE «GREEN DEAL» STRATEGY

Abstract

This article examines the theoretical and methodological aspects of the transformation of the European Union’s energy policy in the context of achieving the objectives of the European Green Deal. A comprehensive analysis is carried out of the EU’s energy policy factors and mechanisms that makes changes in its system of external economic relations, and the possible consequences of these processes for the Union’s macroeconomic development are identified. It is established that the renewable energy sector development has become one of the most notable outcomes of the EU energy market liberalisation. It has been established that, in the growing global instability process, the European Union’s energy policy is the main factor of the economic and energy security ensuring of the integration bloc. This can be explained by the fact that the energy sector is a fundamental element of the functioning of the economic system, ensuring the stable operation of industry, transport infrastructure, housing and communal services, and the social sector. The methodological framework of the study is based on a comprehensive approach that involves the use of systems analysis to identify interdependencies between the European Union’s energy and trade policies. The study also employs methods of logical, structural and comparative analysis to examine the stages of policy evolution and structural transformations in the relevant areas. Statistical methods and tools of economic and institutional analysis were used to process and interpret official statistical data on foreign trade and energy flows. The study findings explaine the academic understanding of the interrelationship between the EU’s energy and foreign economic policies and lay the groundwork for further academic research in this field. The practical significance of these findings makes possible to be used to improve Ukraine’s foreign economic policy, to adapt the national regulatory framework to current changes in European Union policy, to strengthen the country’s energy security, to expand international economic cooperation and to develop the integration of Ukrainian enterprises into European production and distribution chains.