Mihai Draghici, EY: “There is currently a huge pressure on energy distributors in terms of cash flow”

“We have seen three main directions of action in the energy market. Despite last year’s context and despite the expectations for 2022, investments were made in this sector, in optimizing processes, both on supply and distribution.

New investments in the energy sector will come, including the connection of the ANRE portal, which should allow the change of the energy supplier in 24 hours.

In order to sustain all investments, certain legislative changes need to happen because there is currently a huge pressure on distributors in terms of cash flow,” Mihai Draghici, Business Consulting Director, EY Romania said during Energy CEO Forum organized by The Diplomat-Bucharest.

“Another direction of action is the intention to streamline energy consumption and reduce CO2 emissions. These are supported by both rising energy prices and rising CO2 prices.

An important indicator of the PNRR is the reduction of greenhouse gas emissions. Romania has now reached a 60% reduction in these emissions compared to 1990, already reaching the 55% target that the EU had set for 2030.

The third direction of action is to attract European funds for energy efficiency projects. We are going to have ongoing calls for energy efficiency. EY has developed the EY Energy Fit solution for industrial companies that want to find financing for such a project.

We are ranked 3rd in Europe in terms of emissions per capita. Only Sweden and Malta are better positioned than us.”

Full recording of the event: https://www.youtube.com/watch?v=gHayjQz_crw