Optimization of Multidimensional Energy Security: An Index Based Assessment

Abstract

This study introduces Pakistan’s multidimensional energy security index (PMESI) and indices across dimensions from 1991 to 2020 through indicator optimization. Based on criteria, expert participation, and reliability testing, 27 indicators were identified and weighted based on dimension reduction utilizing the Varimax Rotation technique. As a result of robust evaluation framework, there has been a considerable change in Pakistan’s energy security when compared to other studies such as the energy security indicator of Pakistan (ESIP) and the energy security index of Pakistan (ESIOP). According to the findings, energy security decreased by 25% between 1991 and 2012, followed by a modest increase through 2020. During the study period, the “Affordability” dimension improved; however, the other four dimensions, namely “Availability,” “Technology,” “Governance,” and “Environment,” regressed. Few goals under the petroleum policy (1991), petroleum policy (2012), and power policy (2013) were partially met, while conservation programs, such as the renewable policy (2006) and national climate change policy (2012), fell short. Indicators such as price, reserves, governance, corruption, and consumption contributed to PMESI across five dimensions. Thus, PMESI and indices guiding policymakers to focus on improving governance and exploiting local energy resources in order to provide affordable and sufficient energy in the long run.