At the Shi!fts conference, Daniel Křetínský, Czech businessman and owner of EPH Holding, criticised Europe for three fundamental mistakes that threatened its efficiency and competitiveness. China, he said, had also allowed it to gain a technological edge.
Europe has made three fundamental mistakes that have compromised its competitiveness and efficiency.
"The first was setting an ambitious decarbonisation target without a rational basis for how to achieve it. The Green Deal has become a question of value and this is a mistake in the energy sector specifically. Energy cannot be done with values, ideology or emotions," Křetínský said.
The second mistake, he said, was premature and excessive investment in renewable energy sources such as photovoltaics before the necessary infrastructure was in place and before European companies were ready. By doing so, Křetínský said, Europe gave up its technological lead and allowed China to dominate in this area. "Huge amounts of money have not led to practical results," he stressed.
The third mistake, according to the Czech businessman, was the lack of ensuring European competitiveness vis-à-vis the United States. He pointed out that the price of a megawatt-hour of gas in the US is €11 to €12, while in Europe it is €50. Similarly, the price of electricity in the US is €40, while in Europe it is €140. "We are not guarding our competitiveness in Europe," he warned.
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