Karel Kral, "Electrohold Bulgaria": The future of Europe is in electrification

The one who will win is not the person who knows how to produce energy, but the one who finds a way to store it and return it to the grid when it is needed, said Karel Kral at the Green Transition Forum 4.0.

The future of Europe is in electrification, and the backbone for this is the networks. This was stated by the CEO of "Electrohold Bulgaria" Karel Kral during his participation in the most successful forum for green transition - "Green Transition Forum 4.0 - New perspectives for Central and Eastern Europe", organized for the fourth year in a row by Dir.bg and 3E News.

The three-day event lasted from June 26 to 28 in the capital's Sofia Event Center. During the forum, more than 2,500 participants, of which more than 750 top managers from 18 different countries, held the key conversation about tomorrow's world.

Karel Krall was one of the participants in the third session of the second day of the event, entitled "Energy Transformation - Looking into the Future".

The moderator of the discussion was Slavcho Neikov - Chairman of the Board of the Institute for Energy Management, and the other participants - Iva Petrova - Deputy Minister of Energy in Bulgaria, Sebastian-Ioan Burduya - Minister of Energy in Romania, Viktor Parlikov - Minister of Energy in Moldova , Matthew Baldwin - Deputy Director General of the Directorate General "Energy" at the EC, Ivan Ivanov - Chairman of EWRC, and Rob Dobbins - Head of the "International Relations and Asset Management" Department at OMV Petrom.

Karel Kral was one of the foreign participants in the forum who delivered their speeches in Bulgarian.

"From a business perspective, the Green Deal has never been about how 'green' it is, but about security of energy and supply and how to make sure Europe has enough energy for all its activities, including heating ", commented the executive director of "Electrohold Bulgaria".

"We believe that electrification is the way that Europe should go. It is related to both renewable sources and fossil fuel energy sources, which Europe does not have in sufficient quantity," Kral explained.

According to him, Europe should focus on the use of renewable sources in order not to be dependent on others.

"If we replace dependence on Russia with dependence on someone else - we are still dependent. From this point of view, for me, the green deal will always be on the agenda, because it is related to electrification, which is the only future of Europe," noted Kral.

And he added that for this to happen, the backbone is the networks, but investments in them are also necessary, because otherwise electrification will not be possible.

"In the previous panel it was mentioned that a doubling of investment in networks is needed. The question is where the money will come from. And we return to regulation. It is very good how the regulator will strengthen control over market participants, but I hope that in the same way the regulators - both Bulgarian and European, are thinking about how to change the tariff structures in order to motivate consumers and producers for the most efficient use of the networks", emphasized Kral and continued:

"Because it's nice to say "let's double investments and spend a lot on digitization, for more capacities in the networks", but if we don't use them effectively, everything loses its meaning".

He emphasizes that it is important what signals will be given to consumers and producers from the point of view of the flexible use of the networks.

"Here in Bulgaria, we still have a day and night tariff, where night energy is much cheaper than the actual cost of energy, which motivates customers to use it at night, and not during the day, when there is an overproduction of photovoltaics. This should has changed," Karel Kral also pointed out.

According to him, all this is related to digitalization and investments.

"It is clear that energy will be produced from more renewable sources, but photovoltaics and batteries alone will not be enough," Kral said, warning that wind generators would also be needed.

According to him, the one who will win is not the one who knows how to produce energy, but the one who finds a way to store it and return it to the grid at the moment it is needed.

"It's clear that the green transition will cost money, and we have to very carefully explain to people what benefits it will have and what it will protect us from, what energy security is and what it means to be independent as a continent," he said. at the end of his speech, the executive director of "Electrohold Bulgaria".

The largest and most significant conference on the Green Deal "Green Transition Forum 4.0: New perspectives for Central and Eastern Europe (CEE)" is organized by Dir.bg and 3E-news. The forum was held from June 26 to 28. Representatives of more than 18 countries appeared on the conference stages in Sofia Event Center, with a total of more than 2,500 participants, of which more than 750 top managers, held the key conversation about tomorrow's world.

The event is organized by Dir.bg and 3E-news in partnership with ACT Commodities, ProCredit Bank, Visa, European Investment Bank, Elektrohold, Yettel, Artex Engineering AD, UBB, Aurubis Bulgaria, Glavbolgarstroy Holding, Bulgarian Stock Exchange, UniCredit Bulbank, Bulgarian development bank, Geotechmin, Energeo, MET Energy Trading Bulgaria, Dundee Precious Metals, FLAG Fund, ICGB, The Oil and Gas Employers' Federation, Electric Power System Operator, Bulgartransgaz, Fund of Funds, Bulgarian Energy Holding EAD, Kozloduy NPP, Westinghouse, Philip Morris Bulgaria, BMF Port Burgas AD, Information Service, Bulgarian Natural Gas Association, REIB, PCONTRADE, Omega Power Group, PHOTOMATE, OMV Petrom, Bulgarian Recycling Association, TTS (Transport Trade Services) S.A, Morningside Hill, CWP Global , DEVIN, Smart Energy Trade.

Green Transition 2024 is implemented with the media support of BNT, BTA, BNR, bTV Media Group, Vulgarіa ON AІR, Investor.bg, Darik Radio, Darik Business Review, Euroactive, Economic.bg, ESGnews.bg and The Recursive.