Francisco Reynés, executive chairman of Naturgy, considers that the National Integrated Energy and Climate Plan (PNIEC) has already become obsolete given the pace at which the energy sector and the international landscape are evolving.
“The National Integrated Energy and Climate Plan, from my perspective, has already become obsolete. Even the latest update lies far behind, not so much in terms of time, but when compared to all the events that have unfolded since then,” Reynés stated during the opening of the XI Energy Forum hosted by elEconomista.es.
The chairman of Naturgy argued that the PNIEC was originally created to “define ambition” and “set targets,” but believes that the shifts in the energy landscape now demand taking a step further. “Considering how much the world has changed, I believe we must update and evolve this PNIEC to turn it into a tool for execution and tracking.”
In this regard, Reynés warned that “the transition cannot be managed solely by setting goals,” but must instead be handled by “managing implementation and ensuring that implementation meets the intended targets.”
Planning was one of four major challenges highlighted by Naturgy’s chairman during his address. Alongside it, he called for regulatory stability to attract the investments the energy system still requires, a simplification of administrative procedures, and proper management of the growing penetration of renewable energies.
Reynés laid particular emphasis on the need to provide certainty to a sector characterized by very long-term investments, calling for “stable, attractive, and incentivizing regulatory frameworks,” warning that “contrary to what it may seem, far more investment is still needed here.”
Spain, he highlighted, possesses significant advantages to undertake the energy transition. “We have water, we have wind, we have plenty of sun, but we also have human capabilities, which is probably one of the key differentiators for any company,” he explained.
However, these strengths clash with “complex and cumbersome administrative processes,” to the point where today they represent “probably the main bottleneck.”
