Romanian Energy Employers Urge President to Veto Retroactive Law

Romanian energy sector employers have called on President Klaus Iohannis not to promulgate a new law that imposes retroactively applicable obligations. The law, recently passed by Parliament, has sparked significant concern among industry leaders who argue it could destabilize the sector.

The Employers’ Organization of Renewable Energy Producers in Romania (PATRES) issued a statement on Wednesday, warning that the new legislation could have severe negative impacts on investment and operational stability within the renewable energy sector. "Retroactively imposing obligations contradicts the principles of legal certainty and legitimate expectations," said Viorel Lefter, President of PATRES.

The contested law introduces new financial obligations for energy producers, including a tax on revenues that would be applied retroactively from January 2023. Industry representatives argue that such measures could undermine investor confidence and halt ongoing and future projects.

"This law jeopardizes the investments made in recent years and will deter future investments in the energy sector," said Lefter. "We urge President Iohannis to consider the adverse effects this law will have on the industry and to refuse its promulgation."

Romania's renewable energy sector has seen significant growth, attracting substantial foreign and domestic investment. However, stakeholders warn that the new law could reverse this positive trend, leading to financial instability and potential job losses.

The Romanian Wind Energy Association (RWEA) also voiced its opposition to the law, emphasizing that retroactive measures are harmful to the business environment. "Such policies create uncertainty and unpredictability, which are detrimental to any investment climate," said Adrian Borotea, Vice President of RWEA.

President Iohannis has not yet commented on the appeals from the energy employers, but his decision will be closely watched by both industry insiders and investors.

Source: Stiri pe surse