UDC 338.1

Terekhov A.M.¹ (Nizhny Novgorod, Russian Federation) – terehoff.t@yandex.ru; Nikolenko P.G.² (Knyaginino, Russian Federation) – polinanikolenko59@mail.ru; Lazutina A.L.² (Knyaginino, Russian Federation) – lal74@bk.ru

¹Volga Branch of the Russian State University of Justice

²Nizhny Novgorod State University of Engineering and Economics

Abstract. The relevance of the study is due to the importance of assessing and explaining the extent of economic instability in the energy markets of countries dependent on external energy supplies during periods of crisis. The article reveals the causes of the energy crisis of 2021-2022, examines the state of the energy markets of the studied countries. Anti-crisis measures aimed at reducing the negative consequences of the energy crisis for the population and business are disclosed and summarized. A group of countries united by geography (access to the Baltic Sea) representing the Baltic region was selected as the object of the study. These countries are also members of the European Union, and their economies depend on Russian energy supplies. The objectives of the study included an assessment of the state of the energy market of the studied group of countries during the development of the energy crisis of 2021-2022, an assessment of energy security, and an analysis of anti-crisis measures taken by countries. This involves the analysis of literary sources on the subject under study, as well as the analysis of statistical data. As a result of the conducted research, the dependence of the Baltic region countries on external energy supplies, including from Russia, was established (the largest in Estonia, Latvia; the smallest in Sweden). Finland and Sweden showed a high level of energy security; Germany, Lithuania and Poland showed a low level. The countries have taken anti-crisis measures, including business support, reduction of electricity tax / VAT, regulation of retail prices, transfers to vulnerable groups of the population, increase in tax rates on windfall profits. The anti-crisis policy implemented by the countries contributed to the stabilization of energy infrastructure and the growth of energy efficiency.

Keywords: energy crisis, military–political crisis, anti-crisis measures, energy security, Baltic region.

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For citation: Terekhov A.M., Nikolenko P.G., Lazutina A.L. Energy market of the Baltic region countries: analytical review of the state and preparedness for the crisis of 2021-2022, anti-crisis measures. CITISE, 2024, no. 2, pp. 32-51.