Economic Challenges of the Energy Transition: A Qualitative Analysis of Policy Narratives in Ukraine and Romania

The article explores the economic challenges of the energy transition in Ukraine and Romania, emphasizing the political narratives that shape investment priorities, macro-financial stability, and the social justice of reforms. Based on a qualitative analysis of strategic documents, government statements, and expert reports, the study compares how both countries construct economic arguments in favor of decarbonization, energy decentralization, and integration with European markets. It is shown that Romania leverages access to EU funds to modernize its grids, maintaining a balance between gas, nuclear power, and renewables, while Ukraine views the transition as a means of post-war recovery and strengthening energy independence. Critical risks are identified, including debt burdens, potential tariff increases, and the threat of "carbon lock-in." The article offers recommendations such as tax incentives for green investments, mechanisms for war risk insurance, transparent management of international aid, and targeted support programs for vulnerable households. The research also considers potential benefits from clean electricity and hydrogen exports, value chain development, and innovation growth in the industrial and service sectors of both countries.