Exceptional measures must always be designed in such a way that they are limited in time, clearly formulated and targeted, but also ensure fair, equal and competitive conditions for all market participants in the EU, said FPPG president Franck Neel, at the Romanian International Gas Conference 2022.
„Since we met last year, our sector has gone through new dimensions of a crisis that was already commencing. Energy fundamentals are shifting right before our eyes; all the energy resources are exposed to numerous volatilities. We truly live in an exceptional context, with out-of-the-ordinary geopolitical events, energy security concerns, supply/demand imbalances, regulatory changes, and many other economic fallouts due to inflation”, he said.
„The pandemic, the war in Ukraine and the severe draught created the perfect storm that will be faced in the following months. Taking the opportunity, it is worth mentioning that we have acknowledged and support the EU Proposal for Council Regulation on an emergency intervention to address high energy prices on September 14. However, we believe that exceptional measures must always be designed in such a way that they are limited in time, clearly formulated and targeted, but also ensure fair, equal and competitive conditions for all market participants in the EU”, Neel added.
He also said that the current crisis is an opportunity for Europe to achieve a permanent solution for future security of supply, by reconsidering the strategy when it comes to its energy supply, focusing more on its own potential.
“At the same time, countries with significant resources, such as Romania, should aim, in the dialogue with the European Commission on the proposed Regulation, to protect their industry and upcoming capital-intensive investments. The current crisis is showing us that we need investments like air to tackle the biggest vulnerability of the energy system: increasing the local energy production with local resources, while diversifying import supply sources and advancing in the energy transition…
“Uncertainty is the worst enemy of an investor. In time of crisis, an investor searches for predictability and stability. Amplifying the volatility means an obstacle to exit from this crisis”, he also said.
