Skopje, 26 May 2023 (MIA) — The region tackled the energy crisis by using facilities built in the era of former Yugoslavia; it took a crisis for politicians to realize how important it is to invest in strategic energy capacities, according to Energy Regulatory Commission head Marko Bislimoski speaking at a panel on renewable sources held as part of 2023 South-East Europe ΒEYOND Leadership Dialogue in Thessaloniki.

"Nearing the end of the crisis," Bislimoski said, "we can conclude that uninterrupted delivery was not an issue, but the price was. It increased several times on the stock markets and it was a key trigger for companies to start aggressively investing in renewable sources.

"In just one year, privately initiated installed capacity rose by 8 percent. This year we expect it to reach 15 percent. The 'Eldorado' of investments in renewables has reduced the country's import dependence, which has now dropped from 30 percent to only 11 percent," Bislimoski added.

Panelists, including energy sector experts, university professors, and senior political representatives from the region, all agreed that the crisis "had stirred Europe awake" to prepare an investment plan focused on energy and financial support for the economies to mitigate the consequences of the energy crisis resulting from the Russian war against Ukraine.

"We, as a country, have implemented everything the European Union required of us related to energy. This is why I believe the EU will dramatically increase financial support to the countries of the Balkans," Bislimoski said.

The 2023 South-East Europe ΒEYOND Leadership Dialogue is taking place in Thessaloniki from May 24 to 26. mr/