Romania is pressing the European Commission and other countries in the region to increase electricity interconnection capacity, Cristian Busoi, Secretary of State in the Ministry of Energy, has stated. As Secretary of State coordinating European and international relations for the Ministry of Energy, one of his objectives is to act insistently and persistently towards the European Commission and the states in the region to increase interconnection capacity as a solution that will have an impact on reducing energy prices.
“Reducing electricity prices is a priority and essential for the competitiveness of European and Romanian industry. Mario Draghi’s recent call, which can be seen as a realistic analysis of the limits of Europe’s role in this context of international tensions, against the backdrop of the conflict in Ukraine, which affects the European Union (EU) and, directly, Romania, is a warning that European and national policy makers should heed,” the official says.
As Chair of the European Parliament’s Committee for Industry, Research, and Energy (ITRE), Cristian Busoi discussed with Mario Draghi measures to boost industrial competitiveness and solutions for the EU energy market, which are also relevant for Romania. The warning from the former governor of the European Central Bank is a serious wake-up call, says the secretary of state.
One of Mario Draghi’s main proposals for increasing European competitiveness is to reduce energy prices. Possible solutions for implementation include strengthening the energy market through centralized operation of cross-border flows; a single regulatory framework and rules to reduce protectionism; and investments in nuclear energy, carbon capture, natural gas and renewable energy sources.
Romania is affected by high electricity prices, and the eight measures proposed by the Energy Minister provide a precise framework for reducing the prices that weigh heavily on citizens and industry. These measures must be implemented as quickly as possible, especially since some of the solutions require time to implement.
Regarding the specific proposal of the Energy Minister to reduce energy prices, aiming to temporarily decouple the impact of high marginal prices in crisis situations – as a continuation of the joint efforts of Romania, Bulgaria, and Greece – Romania can increase political pressure on the European Commission through regional cooperation, Cristian Busoi notes.