Introduction. As tools through which the European Commission acts to eliminate economic and social disparities between regions, the structural and Cohesion Funds (SCF) are designed to achieve economic and social cohesion with other Member countries of the European Union, having thus a vital importance for each country. Although we are already in the period of postaccession financial allocation, Romania still faces difficulties in the process of absorption of EU funds. At this point, the needs of modernization and infrastructure development are becoming more and more acute, making mandatory the absorption of structural funds. However, we are already close to the middle of the period 2014-2020 financial allocation and the majority of funding have just launched the call for proposals. The national energy system, like all infrastructure systems in our country, has an acute need for financing, especially as regards the technological modernization of transport and energy production. Our country needs an integrated strategy on economic absorption in interinstitutional levels but especially increasing the prevention capacity of the system that will help to avoid financial corrections and projects. Among the measures to be taken at the governmental level in order to improve the absorption of European funds include the simplification of working models, calls for projects and efficient organization of staff.
Aim of the study. This paper objective is to analyse the effects and efficiency of the policy of the structural funds in the field of energy and to identify measures needed to increase its capacity to absorb these funds.
Keywords: structural funds, energy sector, absorption of European funds, modernization, infrastructure development
JEL Classification: G23, Q48, P18