Green Forum • 26 February, 2024 at 9:00 AM
Romania had the opportunity to solidify its energy independence and transition into a net energy exporter, despite challenges such as infrastructure modernization and efficient integration of renewable sources, according to an analysis conducted by the European Institute for Economic Studies.
Romania has enjoyed the benefits of a diverse energy mix, characterized by a significant reliance on fossil fuels alongside a growing emphasis on cleaner, renewable sources. At the same time, Romania has diverse, untapped energy resources and is making some efforts to increase production, especially in the field of natural gas and renewable energies.
Emphasized in the study is the pivotal role of nuclear energy, exemplified by the Cernavoda Nuclear Power Plant and the Small Modular Reactors (SMR) Project in Doicesti, underscoring Romania's potential to emerge as a regional leader in renewable energy. Despite hurdles like infrastructure modernization and the effective integration of renewable sources, Romania has had the opportunity to solidify its energy independence and transition into a net energy exporter.
Furthermore, the study highlights the irrationality of compensating energy providers for price cap-induced losses only to subsequently tax them to recoup the compensation disbursed.
Ultimately, the study advocates for a balanced approach to Romania's energy sector, one that considers economic imperatives, social considerations, and environmental concerns, steering the nation towards a sustainable and inclusive energy future for all its citizens.
The study was conducted between October and December 2023 by the European Institute for Economic Studies, with the support of Epicenter.