We launched the 5th edition of the Energy Strategy Summit – “Mapping the Future”, with an implicit metaphor in mind – the navigator who discovers distant territories, with few clues but a bold vision, risking its own resources to fill the white spots on the world’s map with essential information for all of us. We strived to bring together such navigators, and intended to overlap their inevitably fragmentary and particular perspectives in order to draw a map of the future for the Romanian energy industry.
On June 11, once the last speeches were delivered, once the final conclusions were drawn, we found that the right metaphor is different – the puzzle game. The main conclusion is that the future is already here (Mihai Balan, RWEA); almost all the elements we need to meet the challenges of tomorrow are already available.
Lines of force
The main lines of the image to result once the puzzle has been completed are also known. Some are specific to the national energy industry as the benefits of a balanced mix of primary energy resources must be maintained (Elena Popescu, Ministry of Energy). Others are related to Romania’s membership of the European Union: besides the interconnection and free markets, decarbonization is a tendency we cannot ignore; coal will have a slow-paced assisted dying, and the generation of energy based on renewable resources will increase, with less and less financial support from outside the market.
Another category of tendencies influencing the design of the puzzle brings together a large cluster of sub-trends such as cloud computing, cyber security, industry 4.0, and the like. Digital transformation strengthens the role of consumers – through distributed generation (prosumers), demand-response and energy efficiency – and brings more flexibility, dynamism and relevance into the energy value chain.
We still have no useful definition of vulnerable consumer and we need to update the legal framework so that financial instruments already tested elsewhere to be put to work also in Romania. After all, any new project depends on the extent to which the anticipated return on investment exceeds the profit opportunities that other types of placements allow in other jurisdictions or even locally in other markets.
There is a need for a new round of concession for new oil perimeters and this should be launched very soon (Florin Radu Ciocănelea, Romanian Government), but the success in attracting new investments is largely due to the general functioning framework of the O&G market, from access to technical and geological data, the reduced bureaucracy, the stability of legislation and more liquidity in centralized markets (Saniya Melnicenco, ROPEPCA). In addition, the natural gas storage capacity has to be increased (Dumitru Chiriță, ANRE), and the largest natural gas producer in Romania, also the main storage capacity operator is ready for this (Argentina Tătaru, Romgaz) even if the plans for the next years are far from the additional 3 billion cubic meters identified by the authorities.
The crucial element – a real and honest dialogue
In order for the recommendations from each sector to be used in shaping national strategies, there is a need for extra generosity on behalf of all stakeholders. We already have robust analyzes by credible consultants (among them Deloitte, EPG, Emerton, PwC, KPMG, Nera Economic Consulting and CMS etc.) for the renewable and oil and gas sectors, for the nuclear and coal sectors. The authorities demand that such analyzes take into account the national electro-energetic system as a whole (Elena Popescu, Ministry of Energy), and this is already happening (Mihai Balan, RWEA) in some cases.
However, it all depends on the recovery of trust, seriously undermined by the sudden changes in legislation and regulation in recent years – the withdrawal of support for renewable energies (from 2013), how the offshore law and GEO 114 were adopted (2018) are just the most visible examples. Part of this exercise of transparency and trust is respecting the principles of corporate governance (Johan Meyer, Fondul Proprietatea).
2019 Energy Strategy Summit was organized by Wing Media Energy Consulting, through energynomics.ro, in partnership with reputed industry organizations such as Alpha Bank, AON România, BCR România, Automobile Bavaria Group, CEZ România, Electrica SA, Enevo Group, Fondul Proprietatea, FPPG, Hidroelectrica, ING Bank, Klarmedia, MET România Energy, Nuclearelectrica, Petrotel LUKOIL, OMV Petrom, Phoenix Contact, Ridgid – Emerson, Ringhel, Romgaz, ROPEPCA, Safetech Innovations, Stratum Enclosures, Transelectrica, We Translate.
Strategic partners: ACUE, AFEER, AIIR-FV, ARPEE, AHK România, EFdeN, PATRES, RWEA și SIER-Youth.
Media partners: Radio România Actualităţi, BusinessMark.
With this occasion we also launched the second issue of energynomics.ro Magazine in 2019. Another 184 pages, fully bilingual format and attractive design, capturing the trends and essential themes in the Romanian energy industry: news, analyses and opinion from personalities directly involved in the decision of the regulators and the most dynamic companies. This issue is featuring among others articles and interviews with Adrian Volintiru (Romgaz SA), Cosmin Ghiță (Nuclearelectrica), Spencer Coca (Mazarine Energy), Victor Gânsac (Safetech Innovations), Bogdan Cojocaru (Stratum Enclosures), Cristian Secoșan (Siemens România), Adrian Borotea (RWEA), Eric Stab (ENGIE România), Franck Neel (FPPG).
For the first pages of the current issue of energynomics.ro Magazine (June 2019) enter the dedicated webpage, where you can also read the full content of all previous issues. For ideas, comments and editorial contributions, or commercial cooperation we encourage you to write us at office at energynomics.ro.
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