ENERGY SOURCES' SHORTAGE AND PRICES' INFLUENCE ON THE QUALITY OF LIFE: THE WESTERN BALKANS VS EU - COMPARATIVE ANALYSIS

Recent events related to energy shortages, the surge in energy prices and overall inflation in Europe have prompted an examination of their impact and mutual correlation.This has led to a need for resilience in energy procurement, reducing dependence on a single supplier, and shifting towards renewable energy sources.Due to Europe's lack of preparedness for these steps in 2020, there has been a significant spike in energy prices, directly affecting the quality of life, as seen through the impact on increased inflation.Additionally, improving the quality of energy and its sources should be considered, taking into account the diversity of energy sources and a better energy transformation from primary to final energy.This study analyzes energy sources, usage and prices, inflation rates, and their influence on life quality in Serbia, Europe, and the Western Balkans from 2015 to 2023.