Innovation in energy is the way forward in Central Europe

Innovation in energy is the way forward in Central Europe

Investing in energy innovation is the way forward and private and public sectors from Central Europe should increase the efforts to make sure the region does not lag behind, underlined the executive director of CEEP, Maciej Jakubik, at “Improving energy security and developing cross-border energy systems. The role of innovation and new technologies” event organised by The Energy Charter Industry Advisory Panel, end of November, in Bucharest.

Mr. Jakubik stressed that a more active involvement of entities from Central Europe in EU funded projects, particularly Horizon 2020 and SET Plan, can have a positive impact on finding and developing new innovative solutions and technologies as well as on helping to strengthen the network and increase the presence of Central European companies on the EU market.

Furthermore, CEE companies are visibly shifting their strategies towards innovation. According to the European Commission’s estimates for 2013, private sector investments in innovation were: PL €182 million, CZ: €62 million, SI €49, HU €31 million, RO: €26 million, SK €25 million. These amounts remain modest, but have risen since 2010.

At this event, representatives of energy companies, associations, international organisations and financial institutionsdiscussed current challenges and opportunities for energy security namely: the role of emerging technologies and innovation in enhancing energy security, increasing role of digitalisation and the threat of cyber-security, accelerating energy transition and sector coupling. The participants also focused on issues such as the removal of institutional and regulatory barriers to innovation and the importance of investment in innovative projects that will transform the use and supply of energy in the decades to come.

The Energy Charter Industry Advisory Panel (IAP) held its 41st meeting in Bucharest, Romania on the 28th of November. The meeting was hosted by Transgaz and the Romanian Energy Center.

CEEP is a member of the Industry Advisory Panel which is the expert consultative body to the Energy Charter Conference, providing policy advice from energy companies, international business associations and financial institutions on energy investment and the functioning of energy markets. The Panel includes members from all sectors of the energy industry and from a wide range of signatory and observer countries to the Energy Charter Treaty.

Source:
CEEP with energycharter.org