– Chief executive of Ørsted Europe believes policymakers lack clear goals for energy market
– Europe’s energy market is complicated due to unclear objectives from policymakers
– Lack of capital is not the issue hindering investment in infrastructure, but rather the need for clear planning and certainty for projects.
Olivia Breese, the chief executive of Ørsted Europe, believes that policymakers in Europe do not have a clear vision for the electricity market, resulting in higher prices for green energy. She highlighted the need for policymakers to decide on their priorities, such as job creation, industrial demand, training, sector coupling, and energy security, in order to create a more stable and investable market.
Breese emphasized the importance of stability in the energy market and the need for policymakers to design market structures that align with their objectives. She noted that Europe has the potential to lead the transition towards green energy due to its supranational setup, but clear planning and project pipelines are essential to attract capital and drive infrastructure development.
Breese pointed out that there is no shortage of capital for investments in the energy transition, but structured projects and stable business cases are lacking. She highlighted the role of corporate power purchase agreements in hedging power prices and driving electrification, emphasizing the need for certainty and clarity in policies to unlock the investment potential in green energy. Overall, she believes that a combination of clear planning, project pipelines, and stable policies will be essential in driving the scale of electrification needed for a sustainable energy future.