SIMILAR ARTICLES

70% of economic growth in first three quarters of 2018, obtained by stocks increase. Foreign exchanges pulled down GDP by 1.6 percentage points

INS recalculated GDP in the third quarter and the first three quarters of the year. Here are the growth data for the Romanian economy, updated… Mai mult

Romanian Leu of 2019: Depreciation rate depends on budget credibility and seriousness

The estimates by economists of most important banks in Romania on the depreciation of the local currency for this year range between 4.73 and 4.77… Mai mult

Romania and energy: Position in European context

Final energy consumption of Romanian industry declined by about 75% between 1990 and 2016, compared to only 25% at the EU level, according to data… Mai mult

Crash signal in foreign trade – export coverage ratio has fallen to 2011 level. And we do not import robots

The trade deficit on November 2018 was EUR 1.567 billion, the second worst monthly performance registered last year. Worryingly, the growth rate of exports compared… Mai mult

Intense M&A activity in 2018 in Romania – Deloitte analysis

The Romanian mergers and acquisitions market reached nearly EUR 2 billion in 2018, according to a Deloitte Romania analysis based on public sources and transactions… Mai mult

Cronicile

Romania – biggest reduction in energy consumption in EU. Causes, consequences, opportunities

de Marin Pana , 12.2.2018

According to the data published by Eurostat, Romania recorded the biggest decline in the gross energy consumption between 1996 and 2016 and the cumulated value over the two decades is -32.4%.

The negative rhythm was against the general trend of the EU in the first ten years under review and intensified along the way when the trend has reversed.

Following the dismantling of some significant production capacities, between 1996 and 2006, we were “champions” among the few current EU member states that have reduced their energy consumption and not for reasons related to the efficiency in consumption by implementing more advanced technologies, like it was the case in Germany (0.4%).

*

  • Gross energy consumption in some EU states
  • Year

*

Between 2006 and 2016, with a value of -20.2%, we rank in the European top of energy consumption decrease after Greece (-23.6%), strongly affected by the economic crisis, and small Malta (-22.5%). With the important amendment that, unlike us, these countries had previously seen significant increases (+ 28.7% and 26.2%, respectively), which means in 2016 they were above the 1996 level.

More important, however, would be the position in the regional context, among former Eastern bloc colleagues, and the comparison with the major European economies.

Neighbours from the southern side of the Danube and colleagues in the 2007 accession wave had a similar but more limited decline (-21.1% cumulated). Beyond the initial rebound of the domestic market, restoring the access to foreign markets, with the privatizations, made us net losers.

Reducing energy consumption: Declining economic activity versus consumption efficiency

Poland and Hungary, with which we have major deficits in terms of foreign trade because of the competitiveness, have registered moderate decreases, due to the increase in the consumption efficiency and not the decrease in the economic activity, the same as the Czech Republic and Slovakia, which got much closer in time by the general European trend.

The analysis becomes more complicated, though, due to the restoration of the economic structure to other coordinates than those from some decades ago, with negative effects now because of the diminishing in some energy-intensive activities and potential positive effects at some point in the future in terms of obtaining more added value in less energy-intensive fields.

Basically, we are talking about a more or less wanted paradigm change in development, with the partial abandonment of the heavy industries (petrochemicals, steel industry, etc.), and in the case of others, rather about adding some parametric adjustments of these industries towards lower consumption.

Maybe we can learn something from foreign debt story

The EU cannot afford to waste energy. Improving efficiency in energy consumption is the best way to reduce harmful emissions, increase energy security, improve competitiveness and enable more consumers to access this resource. In the long run, energy efficiency is a key factor in preventing climate changes.

The irony of fate, following the adventures in the privatization, after losing some important foreign markets, and starting a chronic deficit in the international commodity exchanges, Romania is the only European country that has already achieved the goal of reducing the energy consumption, set for 2030.

What, paradoxically, though not a good thing by the way it happened, it should perhaps be religiously maintained over the next decade (the experience with the external debt paid in 1989 in full, but under the pressure, should give us food for thought), by adapting the energy consumption of the new production capacities to the cutting-edge technologies.

*

Specifications

The EU adopted in 2007 the energy and climate targets for 2020 by which it committed to reduce greenhouse gas emissions by 20%, increase the share of renewable energies by 20% and improve the efficiency in using the energy by 20%. The commitment targets a primary energy consumption of less than 1,483 MTEP and a final energy consumption below 1,086 MTEP in 2020.

The acronym “TEP” refers to tons of oil equivalent, and the statistics make the conversion of all forms of energy into oil quantities by the calorific power of fuels other than oil and a conversion factor for electricity. 1 TEP equals 11.63 MWh (4.44 MWh in combustion in thermal power plants) or the energy contained in about 7 barrels of oil, depending on the product. 1 MTEP means 1 million tons of oil equivalent.

In 2014, an agreement was reached on a 27% reduction target for the EU’s energy consumption by 2030, and in 2016 it has been proposed an increase of this target by new efficiency increases, up to 30%.

Mergeți în homepage ›

Publicat la data de 12.2.2018

Lăsați un comentariu


NEWS

Mugur Isarescu: "Ordinance weird thing" reduces monetary policy efficiency, which will not help Government

The National Bank of Romania (BNR) will convoke the National Committee for Macro-prudential Supervision, where the Ministry of Finance will be required to clarify the… Mai mult

World Bank lowered prospects on Romania's economic growth for 2019 and 2020

  Romania's economy will record an advance of 3.5% in 2019 and 3.1% in 2020, down one percentage point from June 2018 forecast, according to… Mai mult

State is borrowing at increasingly higher costs - government bond yield reached 5.33% per year

The benchmark government bond yield jumped above the 5% threshold on Thursday. The Ministry of Public Finance (MFP) attracted RON 300 million from banks on… Mai mult

Iasi - Tg.Mures highway disappeared from Large Infrastructure Operational Programme 2021-2027

The Ministry of European Funds has taken out Iasi-Tg. Mures highway project from the Large Infrastructure Operational Programme 2021-2027 and the Ministry of Transport already… Mai mult

Senate postpones discussions on DNA’s request on waiving immunity of Calin Popescu Tariceanu until February 2019

The Senate has decided that it will put to the vote the decision to waive Calin Popescu Tariceanu's immunity only in the spring session, that… Mai mult

Implementation of 5G technology, a multiplication effect in economy of EUR 4.7 billion - announces Sorin Grindeanu (ANCOM)

The National Authority for Management and Regulation in Communications (ANCOM) launched on Wednesday the National Strategy for the Implementation of 5G Technologies in Romania for… Mai mult

FIC: Amendments on Criminal Codes expose business environment to abuses from civil servants

Some of the amendments to the criminal codes will generate mistrust regarding Romanian state's ability to ensure the legality, stability and predictability of business relationships… Mai mult

European Semester / European Commission asks Romania to correct its medium-term structural deficit by 1% of GDP

Minister Eugen Teodorovici is pressured by the EU to reduce the budget deficit After finding that the Government has done nothing to adjust the deviation… Mai mult

Sovereign Fund gets legal base. Details announced by Minister Teodorovici

The Government adopted on Thursday the ordinance that provides for the general framework for the establishment of a Sovereign Fund. Later, after new talks with… Mai mult

Ford is looking for 1,700 employees to produce EcoSport SUV model

The representatives of Ford Craiova met on Wednesday with mayors of 30 localities from Dolj county in order to stimulate the attraction of 1,700 new… Mai mult

Development strategy / Government squeezes even investment money from its own companies: EUR 120 million from only two entities in energy field

Nuclearelectrica (SNN) and Romgaz (SNG) have calculated the additional dividends to be paid to the state after the Ministry of Finance (MFP) sent to the… Mai mult

DNA, officially: Senate President is suspected of having received a USD 800,000 bribe. Case file opened at a request from Austrian judicial authorities

The case file in which the DNA requested the waiving of the Senate President’s immunity was opened at the request of Austrian judicial authorities and… Mai mult

Illegal state aid / European Commission demands Romania to recover EUR 60 million from CE Hunedoara

Romania has to recover illegal state aid worth EUR 60 million granted to Compexul Energetic Hunedoara, announced the European Commission with a statement released on… Mai mult

Ministry of Finance planned loans of RON 4.74 billion in November. Costs are increasing

The Ministry of Public Finance (MFP) intends to borrow in November RON 4.74 billion, 1.4% more than in the previous month, according to the Ministry.… Mai mult