This is the transcript of the message delivered by Daniela Lulache, CEO Nuclearelectrica, during the 2016 Energy Strategy Summit, held on May 31 at Snagov Palace. For a sum-up of the main ideas, check our previous material: 27 essential ideas after Energy Strategy Summit 2016.

Good afternoon, everybody!

A lot of things have been said and I was just thinking where it would be more helpful to start from in what I intend to say. I would start from something that was highlighted and emphasized by all speakers today. We are talking about a shift of paradigm. I think this is already evident, there is no question mark whether something is changing, or does it not. Yes, everything changes a lot. What role can Romania play, and what it the role Romania can assume for itself? We have the facts: we are rich, we have plenty of resources, we use them all, and we can to ensure our national energy security, and even the regional one, perhaps. The question is whether we will use these resources in time, firstly, and then, how will we use these resources.

From the perspective of the paradigm shift, another reality is that investors themselves are positioning differently now, compared to the position they held until recently. Indeed, an investor will always be driven by profit, and this we must keep with ourselves all the time. I do not think investors are motivated by technology, I think investors are motivated by profit, and secondly, really, by this paradigm shift. Now it becomes relevant where profit is obtained from, and then, yes, technology can become another relevant information.

In terms of energy, I think another paradigm shift is how energy becomes a social product, more than just a commodity. It is a commodity, well, but it is more significant than a simple product traded on a market. We really do have to manage the topics of competitiveness, affordability and prices accessibility for the consumer, be it domestic, end-consumer, or a large, industrial consumer. How this chain will be addressed will really put Romania in a competitive position of seniority where it can use its advantages, or not.

I have started with this framework because what I want to tell you is that it is not easy at all for a power company to be in the market today. Nuclear power has now the great chance to prove once again what has not been seen or retained over time – it produces cheap, sustainable, predictable, clean, carbon-free energy and thus it can have a very big role in the future Romania’s energy strategy. This strategy cannot be decoupled from what happens in the world, especially from what happens in Europe, and I think it would be a real shame for us to miss this moment. Yes, nuclear power has been affected recently, especially after the Fukushima accident, we all feel it as if it was yesterday. However, a rebirth of this industry is on course, with a fabulous expansion, not only in Europe, but also in Asia, in the United States. Until recently, there were essentially no new nuclear projects in Europe or in the United States. Now, there are serious developments in the UK market, with a change of the approach on the nuclear industry seen as a whole. And also in the United States, where again large nuclear projects appear these days.

We are very good, and it would be great for us to use once again the knowledge and experience, to use our highly skilled personnel, not letting them being taken by others. One of the challenges we have today is related with these specialists. For the moment, we still have very good specialists, but they are being hunted by everyone. We live in a highly competitive world, both as an industry, and as people. All the time, fine professionals will be look for, will be recruited, will be well rewarded. In respect with the changes of paradigm, I think this one should be among the first to be considered.

For sure, we need a change in the regulatory framework. A substantial, deep and extremely complex change. I think the regulatory framework should take into account first of all what is that we want. If we want Romania to be competitive and to have an important role, we can only achieve this with people. And if we do not have any good people anymore, is certain that we will lose all the competitive advantages we have today. The nuclear industry is facing a dramatic reality: there are less and less nuclear experts. In the national integrated nuclear value chain, Nuclearelectrica is the only healthy and competitive link. In order for this link to last, we need research and development, we need specialized construction works, we need many local suppliers. Let’s try to have a look here, because, I say it again, all major R&D projects, all technological advance is done with proper allocated people and resources.

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