On 8 December, Stefan Jugel, CEO of AS VALMIERAS STIKLA ŠĶIEDRA, participated on Pan-Baltic discussion about energy situation in the Baltics: How cold will the winter be?, discussing about the current energy crisis, which has resulted in price spikes, driving up in inflation and threatening economy recovery. Heading into winter, Europe faces higher utility bills, more expensive products and looming risks of slowdown in economic growth.
Stefan Jugel comments: “It was a pleasure to discuss the important topic of the energy market with the other panelists. Basically, there are a lot of naive fantasies from the political side about hydrogen, grids and the distribution of renewable energy and the replacement of natural gas. However, first the homework on the energy market should be done and the influence of the energy exchanges on energy prices should be regulated. The fact that a fraction of the energy trade determines the price for all market contracts, regardless of the purchase quantity and structure, is unique and incompatible with market economy principles.”
AmChams in Latvia, Estonia and Lithuania invited members to join an online event to discuss the current challenges facing the EU and Baltic energy market. The panel discussion was addressed energy security and transition to low carbon energy sources.