A Romanian economic official has praised an EU move to label nuclear and gas as sustainable despite an internal row in the bloc.
Energy price hikes
Romania has gas reserves and a nuclear plant and stands to gain by the decision.
Economist Cosmin Marinescu said the decision was the right one as energy price hikes in the EU mean a risk of businesses relocating and developing outside Europe.
”The current energy crisis is much more noxious for the economy than the pandemic and its restrictive measures,” Mr. Marinescu who is a presidential adviser to President Klaus Iohannis wrote on his blog.
The EU unveiled plans last week_ seen as controversial by some_to allow nuclear and natural gas energy plants to be counted as „green energy.”
Sustainable investment
The European Commission says it has decided that both types of energy can classify as „sustainable investment” if they meet certain targets.
He welcomed the European Commission noting that Romania pushed for it at the European Council.”
Romania’s Cernavada nuclear plant supplies about 12% of the country’s electricity needs. It also has important natural gas reserves.
“This decision paves the way for crucial opportunities in the following years which can consolidate the EU’s energy security. We can exploit energy sources in a smart and balanced way for the community.”
Black Sea offshore gas
The decision could give the green light to Black Sea offshore gas and nuclear ‘strategic projects’, he said.
The move has divided the EU, and has been fiercely opposed by some members.
Austria’s chancellor responded to the news by saying „nuclear power is neither green nor sustainable”.
Austria
He said he would back his environment minister, Leonore Gewessler, in pursuing legal action at the European Court of Justice if the plans go ahead.
Luxembourg has also said it will join in legal action.
The EU has set itself a goal of becoming climate neutral by 2050 and the Commission argues that to get there, a great deal of private investment is needed. Its proposals are meant to guide investors.
Green transition
Mr Marinescu argued that the EU remains heavily reliant on energy imports “although in the last 10 years renewable energy production has increased.”
“Maybe it’s the moment to fine-tune the European calendar… and reassess the instruments and mechanisms we choose in the green transition_ one which is more challenging and ambitious.”
Romanian PM says ‘one million energy bills’ need to be recalculated as energy prices soar
