Investments in electricity networks must be doubled throughout Europe, and in Romania they should reach 1.2 billion euros per year, from 600 million euros at present, said Georgios Stassis, CEO of PPC and vice-president, on Wednesday of Eurelectric, at a press conference organized within the Eurelectric Power Summit.

“We need to double investments in electricity distribution networks throughout Europe and this is also true in South-Eastern Europe. For example, in Greece, we will exceed the level of 500 million euros this year (compared to 150 million euros five years ago) and we will have to double to one billion euros. In Romania, investments in electricity distribution (all operators in the country) are approximately 600 million euros per year and it will be necessary to double to 1.2 billion euros,” said Stassis, according to Agerpres.

He also emphasized that renewable energy sources change the way the system operates and that new business models will appear, such as storage through pumped hydropower plants or batteries.

“If before the thermal power plants provided the energy in the band, we see how currently their role is moving towards balancing, which is very important, because they provide flexibility and we need flexibility in the system. Also, new business models will appear, storage, through pumped storage hydropower plants, with batteries. So the business models will adapt, as will the markets, without this stopping the development of renewable energy sources,” said the PPC official.