Romania lags behind other European countries in the implementation of energy efficiency measures and the improvement potential is very significant. 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.
According to an analysis issued by the Energy Task Force of the Foreign Investors Council:
- 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.
- 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.
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 consumers' bills."
Eric Stab, Vice President of the Board of the Foreign Investors Council 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".
The Foreign Investors Council (FIC) raised awareness on the need to foster energy efficiency in Romania during a roundtable organized on April 26th, 2013 and attended as guest speaker by Emil Calota, Vice President of ANRE.
The FIC presentation is available for download at:
The Foreign Investors Council (FIC) is an association of the leading investors in Romania. The FIC was established in 1997 when it officially began its activity with 25 companies as members.
Today, the FIC has 124 member companies whose cumulated investments in Romania exceed EUR 35 billion representing approximately two thirds of the total foreign direct investment made since 1990.
The FIC includes multinational companies providing the Romanian economy with a variety of goods and services and creating almost 200,000 direct and indirect jobs.
In Top 10 largest companies by turnover, 8 companies are FIC members, and 37 member companies are included in Top 100 - as per the report "Major Companies in Romania" published in 2011, by IBP.
Foreign Investors Council (FIC) - www.fic.ro