Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. ORSE: Romania could invest EUR 6 billion to...

ORSE: Romania could invest EUR 6 billion to slash energy and transport poverty 

April 23, 2024

Romania will be one of the largest beneficiaries of the Social Fund for Climate, which will create a significant opportunity to reduce the energy poverty rate at national level, according to a press release of the Romanian Energy Poverty Observatory (ORSE).Thus, Romania will receive 9.25% (EUR 6 billion) of the EUR 65 billion financing package of the Social Fund for Climate, available during 2026-2032.The Report "Identification of vulnerability to ETS 2 in the Central and Eastern Europe region based on the example of Romania and Poland. Recommendations for social climate plans" was developed by the Center for the Study of Democracy (CSD), together with non-governmental organizations from Poland (WiseEuropa) and Germany (adelphi, Berlin)."In Romania, households that use gas-fired devices for heating their homes and are already energy poor will be the most vulnerable to ETS 2. However, other types of households will also be indirectly impacted by ETS 2. Therefore, a great stake is to develop programmes adapted to the energy needs of low- and middle-income households that are vulnerable to any price increases. These households are already in precarious situation or at high risk of energy poverty if they do not benefit from long-term interventions. One of the most important tasks for the authorities in the coming period is to identify and profile the households that will be most affected. This EUR 6 billion financing that Romania will benefit from will create a major opportunity to reduce the high rate of energy poverty registered at national level, if vulnerable categories of consumers are correctly identified," Andreea Vornicu, researcher at the Center for the Study of Democracy and co-author of the study, said, as quoted in the release.ORSE reports that, in Romania, 37% of households were in energy poverty in 2022, after spending over 10% of their income on energy bills (electricity and heating), according to CSD modelling based on data contained in the Family Budget Survey conducted by the National Institute of Statistics.Middle-income households will largely be directly affected by ETS 2, as these are households that do not have much economic leverage and every change in prices directly affects their income.In terms of transport, the biggest impact, around 4% on total expenses, would be felt by households at the top of income sources, according to the report published by CSD.The Romanian Energy Poverty Observatory (ORSE) is a project initiated by the Center for the Study of Democracy, a think-tank founded in 2006 within the Department of Political Sciences, Faculty of Political, Administrative and Communication Sciences, Babes-Bolyai University of Cluj-Napoca, within which it operates as an accredited research center.

Read in full - click here
Romanian restaurant chain Spartan nears EUR 50 mln turnover in 2023, plans local and international expansion

Romanian restaurant chain Spartan, which local entrepreneur Stefan Mandachi sold last year to the brand’s main franchised investors, said it recorded a turnover of EUR 48 million in 2023 and announced plans for local and international expansion. The quick-service restaurant network has reached 75 locations and sold Greek-inspired products to over 7 million customers last […]

Romanian Remote Butler app to include people with disabilities among waiters

Remote Butler, an app developed by an IT company from Cluj-Napoca, Romania, that allows registered waiters to practice their profession regardless of their location, will also include people with disabilities. Moreover, it will also use sign language to make it more pleasant for people with speech impairments to access the services of the restaurants they […]

Techsylvania 2024: Your gateway to innovation, inspiration, and networking excellence

Techsylvania, the premier tech conference renowned for its ability to unite visionaries in the world of technology, is gearing up for its highly anticipated event in 2024. With a focus on fostering collaboration, sparking innovation, and providing unparalleled networking opportunities, Techsylvania 2024 promises to be an event like no other. Among the most exciting aspects […]

Behind the Scenes of the International School of Bucharest’s Student’s Led TEDx

‘Small actions influence significant and unforeseen consequences’ This is the root of the Butterfly Effect and the theme behind the inaugural edition of TEDx ISB. We are thrilled to share the resounding success of this event’s first edition, held on the 6th of April 2024. TEDx events are...

UAE-based airline flydubai opens new office in Bucharest’s Eminescu Offices

flydubai decided to open a new office in Bucharest, in the Eminescu Offices building, according to Cushman & Wakefield Echinox, the real estate consultancy company that brokered the lease. Founded in 2008, flydubai is a low-cost airline based in the United Arab Emirates (UAE).  Elena Iaru, Consultant Office Agency, Cushman & Wakefield Echinox, said: “We […]

Alstom completes new maintenance depot for electric trains in Bucharest

Alstom announced on April 23 that it completed a new maintenance facility in Bucharest for electric rolling stock. According to the company, Alstom Grivita Depot is Romania’s first established depot dedicated to the maintenance and testing of electric trains and locomotives. The first EMU from...