Adjusting energy efficiency targets "would not be a good sign", defends Endesa

The manager considers that the goals that exist, negotiated at European level "are already demanding" and underlines that "it is not a good sign to set goals just because there is a disturbance".

A possible adjustment to the European plans for energy efficiency, following the covid-19 pandemic, “would not be a good sign”, said Nuno Ribeiro da Silva, president of Endesa Portugal, during a webinar.

At the event, organized today by the Portuguese Spanish Chamber of Commerce and Industry, as part of a cycle on “Portuguese Spanish economic relations and prospects after the health crisis”, the manager said that the goals that exist, negotiated at European level “are already demanding ”.

"In energy, the short term is ten years, it is not a good sign to set goals just because there is a disturbance, albeit an important one, in the 30-year road ahead", he stressed.

"But I think it is not a good idea for the goals achieved to put 10% more in renewables or to improve energy efficiency now", he assured.

Nuno Ribeiro da Silva also said that he believed that "investments will not stop", but there must be some "precautions".

“Governments should look at the path that has to be taken at a high speed and see where the black spots on the road are,” he said, specifying that these points are mainly bureaucracy and tax incentives.

The president of Endesa Portugal pointed out issues such as the difficulties in obtaining licenses, for example, for the installation of renewables or the lack of capacity of the public bodies involved in the process as obstacles to advancing investments.

At the same time, for Ribeiro da Silva, fiscal stimuli and policies must be adequate “to channel the hundreds of billions of euros that need to be invested in the transformation of this sector and stimulate policy objectives, as well as penalize solutions that do not interest him. ”.

The President of Endesa criticized an “almost blind taxation” that does not help “guide consumers on the paths” necessary to achieve the goal of greener and more efficient energies.

Nuno Ribeiro da Silva also devalued criticisms of energy prices, which have not fallen, despite the fall in costs in the energy market of the Iberian Peninsula, the Mibel.

“In general, the contracts that the companies have [with the electric companies] were made on a fixed-term basis, to 6 months, 12 months, 18 months or 24 months”, he said, indicating that the conditions in force in these agreements are maintained.

Even so, Nuno da Silva admitted that the energy suppliers are “in a position to approach the customers and say that the contract can be renegotiated”, under conditions that are advantageous for both parties.

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