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June 30, 2022

Romania, behind other European countries in the implementation of energy efficiency

According to foreign investors’ council (FIC), important policy choices have to be made in the short-term.

Romania lags behind other European countries in the implementation of energy efficiency measures and the improvement potential is very significant, according to an analysis issued by the Energy Task Force of the Foreign Investors Council (FIC), a press release informs. Some progress was however achieved in the last decade, on the one hand through specific efficiency measures taken but on the other hand unfortunately also due to the effects of the economic crisis.Romania has the third most energy intensive economy in the EU. In other words, the country uses more energy resources to produce its GDP than most of its peers, the FIC experts are noting. Significant energy savings are possible in the industrial, commercial and residential sectors. Important policy choices have to be made in the short-term regarding the enforcement of the new EU Directive on Energy Efficiency. “Romania should set realistic energy efficiency targets and implement balanced and cost effective policies whilst avoiding market distortions. Romania should continue to stimulate investments in energy efficiency and in clean technologies in order to reduce its dependency on fossil fuels as their costs are likely to increase in the future. The country can also make better use of the available EU funds in order to foster investments in this area as these funds are the most significant and least expensive financing source available to Romania today,” said FIC in the document.

To attract investments in the energy efficiency sector and in other areas of the energy value chain, Romania needs to put in place a regulatory framework which is stable, predictable, transparent and easy to implement. To be appealing for investments in the long-run, the sector also requires clear targets set by the Romanian authorities.Emil Calota, Vice President of ANRE, said: “Energy efficiency must be a national priority for Romania.

It requires more attention from all stakeholders as well as increased awareness of the country‘s population. Effective energy efficiency policies and regulations can be a powerful tool to mitigate the impact of rising energy prices on consumer’s bills.”Eric Stab, Vice President of the Board of the FIC and Chairman of the Energy Task Force, emphasized that “the cheapest energy is and will always be the energy you do not consume. Fostering energy efficiency would create many opportunities for Romania: numerous industrial consumers can still optimize their production and thus remain competitive; household consumers also have significant potential to mitigate the impact of energy bills on their income and energy companies have the opportunity to innovate and create a new market in Romania which we hope will remain sustainable for many decades”.

FIC raised awareness on the need to foster energy efficiency in Romania during a roundtable organized on April 26, 2013 and attended as guest speaker by Emil Calota, Vice President of ANRE.

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