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European industry pays 40% more for energy than 7 years ago

17 February 2015
Economics&Markets
energynomics

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In the last seven years, energy prices for the European industry have increased by almost 40%, says Iulian Iancu, Chairman of the Commission of Industries and Services from the Chamber of Deputies.

“In Europe, the industry pays for energy by 38% – 40% more than seven years ago, while in the US, for the same period of time, energy prices fell by 4% for the industry,” said Iulian Iancu.

Energy price in the european continent is only one of the international heavy files regarding the energy and environment at global level, stressed Iulian Iancu. Added to this are the external and internal political positions and the internal vulnerabilities of some of the strongest players from the oil market (Venezuela, Russia, Nigeria and Iran), a crisis of access to drinking water, the return of the oil price (which will burden even more the economies with modest increase) and the divisions in the Middle East.

“The weakening of democracy and resurgence of separatism and nationalism in Europe increasingly influences over the legislation on the continent”, added Iulian Iancu focusing on the topics discussed at the recent World Economic Forum in Davos.

For Romania, the priorities are well known, but progress is shy on all major directions in 2015.

“Romania is in the process of integrating its transmission systems for gas and electricity. The EU has concluded that financial instruments to achieve interconnections are required, and an investment plan for Europe is being undertaken, to which Romania must take part of by proposing projects that fit better into the major themes so as not to receive infringement as in the case of unfulfilling the security program in the gas supply”, said Iulian Iancu at a conference dedicated to the development prospects of energy companies.

At the national level, “Romania can submit projects financed by the Danube Strategy, and has to carry out the Energy Strategy, the National Energy Efficiency Plan and the Thermal Energy Law”, said Iulian Iancu.

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