Energy Minister Burduja: “We are looking for solutions together with distribution operators to increase investments in electricity networks

“The economic growth of any country, not just Romania, depends on two variables: population and productivity growth. For productivity growth, the energy sector has an essential role. We cannot talk about a competitive economy without distribution networks that are modernized and resilient and that ensure the accommodation of more consumption points, more prosumers, in fact an adaptation of the energy system to the new realities,” Energy Minister Sebastian Burduja said during a debate organized by Financial Intelligence and the Federation of Energy Utility Companies Associations – ACUE.

“Energy distribution networks require investments. Now we do not have enough funds, considering European restrictions, which no longer allow us to finance gas networks from European funds.

For electricity, we have managed in recent years to attract funds of 1.7 billion euros for projects that are mostly under execution, and some of them are already completed. I recommend that distribution companies promote these results, and that Romanians understand the positive impact of European funds.

We had preliminary discussions with the distribution operators and a topic of debate was the possibility of extracting a larger amount through the Modernization Fund.

In our discussions with the European Investment Bank (EIB), we were told that a wiser option for Romania – chosen by other countries – would be to transform this financial envelope into subsidized loans as a way of compensating for the investment needs in this sector. It is a working option; I am waiting for proposals from the distribution operators.

We will have discussions with ANRE and a bank with which we want to implement this instrument. A natural partner would be the new investment and development bank. They are looking for an instrument to put on the market, so it could be a win-win-win situation for all parties involved.”