Beyond my personal enthusiasm for the phenomenon of prosumers in Romania, I have to make an addition. The amount of 680 MW (the equivalent of a Cernavoda reactor) that we observed injected into the transport network from the storage facilities in the evening of August 13 (when both nuclear reactors were shut down) cannot be attributed only to prosumers. Prosumers have their role and their exercise of solidarity was and is important because it reduces the consumption of the transport network. However, at the level of the transport network (which is handled by Transelectrica), there we rather see the effect of the companies' storage projects, that is, industrial storage. Both actors (both the small and the big) contribute essentially in this period. Our economic reality, since the last year, is dictated exclusively by macroeconomic arguments - reducing the budget deficit is the ultimate goal. However, keeping taxes high, for too long, means brutally ignoring the Laffer curve. If you press too hard on the tax pedal, you kill consumption and destroy your taxable base. Yes, in the first instance you will get an increase in the income of the state budget, but if you keep taxation high for too long, you will get the opposite effect: more and more companies will go bankrupt, no more investments will be made, consumption will decrease, evasion will increase, and active people will be able to move their tax residence to other countries (in the same Bulgaria, for example, where the income tax is 10% and the dividend tax is 5%). Tax increases are a double-edged sword and must be used carefully and sparingly, if you as a state want to have someone to tax. On the fuel front, we only have a temporary respite. The government decided to reduce the excise duty on diesel by 20% (much more useful than the initial percentage of 10%). The measure is welcome, even if it is timid. Fuel price increases in the near future will not come so much from what is happening in the Middle East as from Russia, as the events there can influence the regional diesel market. Ukrainian drone attacks have destroyed an important part of Russian refining capacity. The latest figures indicate an extremely high degree of destruction - up to 65-80% of the decommissioned refining capacity. When Russia (which faces its own shortage of diesel fuel in agriculture and transport) goes out to buy fuel on the global market, prices will rise for other buyers. My intervention at Digi24 on Thursday, August 13, at Jurnalul de Sără with Cosmin Prelipceanu.
Read more »we do things differently
ROEC functions as a nexus between three “epistemic communities”: business, policy makers and academia