Subject This article assesses the efficiency of budget and extrabudgetary financing of regional programs and projects on energy saving. Objectives The article aims to develop a methodology for assessing the effectiveness of regional energy management systems and instruments financed from budgetary and extrabudgetary sources, based on strict quantitative approaches. Methods For the study, we used the methods of statistical analysis (the means equality test, non-parametric correlation analysis, and non-parametric Mann–Whitney U test and Kruskall–Wallis test), and comparative and bibliography analyses. Results On the basis of statistical analysis of financial mechanisms, the article reveals a negative correlation between extrabudgetary sources of financing and relative energy intensity of GRP only. The article shows that the majority of energy saving and energy efficiency measures has not yielded the desired result, and the budget annual allocations are not effectively spent. Conclusions The article concludes that there are serious problems in the methods and forms of implementation of administrative, technical and financial measures to improve the energy efficiency of the regions. The implementation of these measures should also be thoroughly analyzed and monitored in view of the absence of long-term positive effects. It is necessary to eliminate cost barriers to energy saving technology introduction.
Keywords: energy intensity, energy management, energy efficiency, regional program, financing
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