publications

On the Brink of an Energy Crisis – What Can We Learn from the Past?

Writers

Oras Tynkkynen

Senior Advisor, Sustainability solutions, Sitra

Tuuli Hietaniemi

Leading Specialist, Sustainability solutions, Sitra

Outi Haanperä

Project manager, Climate and nature solutions, Sitra

Published

Russia’s war of aggression against Ukraine is causing immense human suffering and massive material damage. The war may also plunge Europe, including Finland, into a deeper energy crisis. Many organisations, including the European Commission and the International Energy Agency (IEA), have recently outlined the path out of dependence on Russia.

In this working paper, we have collected lessons from past energy crises and energy economic upheavals. First we look at the 1973 oil crisis, then Japan’s recovery from the collapse of nuclear power generation in 2011. We also look at cases where the energy economy has changed significantly in the absence of crises.

Finland has traditionally been comparatively well prepared for exceptional situations. On the brink of an energy crisis, we should use all available tools: we can strengthen foresight and preparedness, seize the potential for energy savings and ensure the timely replacement of Russian energy. In the long term, we need to secure the transition towards a circular economy that is sustainable for the climate and nature.

Publication details

Title

On the Brink of an Energy Crisis – What Can We Learn from the Past?

Authors

Oras Tynkkynen, Tuuli Hietaniemi, Outi Haanperä (Sitra) and Hanna Hakko (E3G)

Place of publication

Helsinki

Year of publication

2022

Publisher

Sitra

Outlook

20

ISBN (PDF)

ISBN 978-952-347-262-4

ISSN (PDF)

ISSN 2737-1042 (www.sitra.fi/en)

Subject

energy, energy crisis, energy saving, energy efficiency, preparedness, Finland, Russian energy

Series

Working paper

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