“What’s important is to realize that we still have the possibility of being proactive. Proactive in terms of investments in the distribution sector. At the moment, market participants in distribution are already operating at around 100% capacity. However, to integrate new power generation capacities, significantly larger investments will be needed. Probably at least double, if not three times as much.

The global estimate is extraordinary—at the European Union level, the investment needs reach fantastic sums. In Romania, for example, for Electrica Group, the minimal investment plan is around €150 million per year. But these investments could easily double, if not triple,” said Alexandru Chiriță, CEO of Electrica, during the Green Energy Conference organized by The Diplomat-Bucharest.

Key statements:

• “We are not talking about investments to cover Romania’s needs for the next 2–3 years. We are talking about investments to meet Romania’s needs for the next 30 years. Whether this is possible remains to be seen. To achieve it, we must consider two components.”
• “The first component is financial. These infrastructure investments require capital. That capital has to be raised by companies, from the market, either through banks or through bond issues, similar to the one we carried out recently. The instruments exist, but we also need financial stability and a good understanding with the regulator.”
• “Right now, we are in talks on this matter, and I believe they are moving in a good direction. The second component, equally important, is execution capacity. It is not enough to have the distribution company or the financiers; we also need the contractors to actually carry out the work.”
• “Companies must be able to grow on the back of these investments. But they, too, need predictability. They need to be certain that the funds will actually be invested. And to make that happen, we must quickly reach a sound understanding with the regulator and find a solution.”
• “If we don’t want to be proactive, we can remain reactive, as we usually are. But the risks will be much higher. If we want lower energy prices, we need to be proactive. If we’re satisfied with the current situation, where energy prices are high, then we can remain reactive. But this is a choice everyone must make. Personally, I still believe the regulator will step in to help solve this issue.”
• “We must understand that life is no longer the same. It simply doesn’t work under the same rules anymore. The rules have changed, and we must adapt. ANRE must adapt to today’s functional business models. I’m glad that the Ministry of Energy understands this and that we now have an initial set of measures to support these changes.”
• “The movement is already happening. If we maintain momentum, I am convinced the regulator will also adapt and make the necessary changes. Because in the near future, we also need to talk about dynamic tariffs, the binomial model, etc. But these things can only change if we shift our perspective. I believe companies are ready.”
• “International investors trust a Romanian company enough to entrust it with €6 billion for investments in energy infrastructure here. It is up to us to ensure these funds are brought in and successfully directed into the economy.”