An extract from the ECR Party’s report: The Future of Energy in the Balkans

Energy - January 23, 2023

“The only regions that will not be significantly affected from a financial point of view by the measures proposed in the European green plan are the Nordic countries, Iceland and Greenland – this is because the Nordic countries already have a realistic policy to reduce climate pollution in action, measures that are being implemented constant.

If we were to analyze the “strengths/weaknesses” of the European Green Pact, we would observe the following:

  • on the “strong points”, the measures proposed in the “Green Deal” assume a decrease in the costs of heating homes, based on the decarbonization of the current energy industry, a decrease in the costs of medical procedures, as well as the number of premature deaths, caused by atmospheric pollution.
  • on the “weak points”, the “Green Deal” involves an estimated investment of 4 trillion euro just for the decarbonization of the energy industry – the acquisition and development of new, non- polluting technologies that do not rely on the consumption of fossil fuels for their functionality. Also, large-scale investments in the European car industry of hundreds of billions of euro, which aim at 2035130 as a turning point – giving up the production of thermal engines.

An important aspect that is only rarely discussed in the “Green Deal” is the geopolitical and geoeconomic one. It is obvious to many Europeans that Europe does not have major energy resources and here we are referring to fossil fuels131 – oil and natural gas, moreover it is not in a favored position when it comes to the production of rare metals132 or “rare earths”, as they are also known. An important concept of the “Green Deal” is “electrification”, which implies exactly this

– the use of rare metals in the production of technologies designed to ensure the decarbonization of the energy system and the European economy.

At the level of the Balkan region, as it was shown in the analysis of the energy system of each state, major investments are needed, especially in the energy sector, which is catching up, in terms of investments.”

For the full report please click on the link below: