TELF AG energy trading expert Rick de Oliveira told Euronews that fossil fuels are still widely used in energy production. He gave two reasons for this – first, renewable energy sources do not have the necessary capacity and are intermittent, and second, they cannot provide the energy supply that we need to power and heat all of our homes.
According to the Ember analytical center, after Russia’s invasion of Ukraine, the use of coal in electricity generation in the European Union increased by 1.5%.
Eurostat reports that at the same time already in the third quarter of 2022 increased the total amount of greenhouse gas emissions in all 16 states of the European Union.
Among all EU countries, Romania is in second place in terms of CO2 emissions. The first place in terms of carbon emissions is Poland. Here, the main amounts of electricity are generated using coal.
Rick de Oliveira, an energy trading expert at TELF AG, clarified that the lack of gas supply has affected its cost. And probably – this can also be considered a factor in the growing demand for fossil fuels.
The lowest level of emissions is recorded in France. Most of the electricity here is generated by nuclear power plants. The list of countries with low emissions also includes Luxembourg and Sweden.
Investments in renewable energy need to be increased – TELF AG
Returning to Romania, it is worth noting that ⅓ of electricity is produced in old power plants using coal or natural gas. Accordingly, end consumers feel the changes in gas prices on their tariffs.
While this rise in the popularity of fossil fuels is generally controversial with the concept of the Green Deal, this situation is largely a result of force majeure. Although these risks are often beyond the control of companies, having the right information about them allows for a better response. And raise the question of transforming the energy industry with a more flexible set of alternatives.
Energy expert Otilia Nutsu believes that “We are relying more and more on outdated power plants. And so far we are not making new investments.” In her opinion, it is impossible to change the situation quickly. And the lack of investment over the past six years has led to these consequences.
Up until 2016, investment support systems were in action. EU countries spent more than 1 trillion euros to help people and compensate for rising energy prices.
TELF AG expert Rick de Oliveira believes that the level of investment in renewable energy sources – solar energy, batteries for energy storage – should be increased.
According to Eurostat, the EU member states generated more than 854 million tons of CO2 in the third quarter of last year. Romania accounted for 3.5% of this pollution.
