In this context of expensive energy, companies need to look at their business models and see what they can do to become more efficient, said Olga Khakova, Deputy Director for European Energy Security, Global Energy Center, Atlantic Council.

“Everything is changing. From the way energy is produced to the way it is delivered across Europe. However, markets are still not fully integrated, and the risk of not having them fully integrated is increased prices and uncertainties for enterprises and businesses,” she said.

“In the past, consumers were only interested in energy prices when they were very high, but now everyone wants to know where the energy comes from and what we can do to ensure supply security.”

She added that everyone is concerned about what the future energy distribution network will look like, which will need to be more digitalized and interactive.

Olga Khakova was part of a top-level conversation organized by Energynomics and the Romanian Energy Center, with the participation of the Romanian Ministry of Energy and the Atlantic Council’s Global Energy Center, and with the support of Elecrica SA, as a satellite event to the fifth meeting of the Partnership for Transatlantic Energy and Climate Cooperation (P-TECC) in Bucharest on July 23-24, 2024.