“Affari&Finanza” interviews Starace

Published on Wednesday, 12 December 2018

“Acceleration in renewable sources and 450 thousand charging points for electric cars by the end of 2021: the future is already here”

– Francesco Starace, Enel CEO

People purchasing cars can now also buy a charging point that can be installed in their garage or parking space: at present one in every two cars is sold with this system,” said Francesco Starace, who foresees a total of 450 thousand charging points, including both public and private. Enel is also looking at plans for the major Latin American cities, where the group distributes electricity, as well in as Russia. “They have asked us to install charging points in Murmansk, to provide recharging services for the Norwegians who travel there by car.” The Group is thus confirming its position as a key player in the transition to electric mobility, both in national and international terms. “It is a revolution, but it is not an absolute novelty,” Starace said. “Electricity was already powering trolleybuses and trams, and trains are electric. Now, however, there are also cars, and this marks a historic change. There will be less noise, less pollution, and driving will become an altogether more enjoyable experience.

But the CEO also observed that, as is the case in every revolution, attention must be paid to “those who benefit and those who take risks”; society overall will benefit from this transition, but “it’s necessary to ensure that those benefits are shared by everyone and that no-one is left behind.” In the interview Starace also explained how the Group is working hard to solve some of the critical issues that could hinder distribution. Battery power is up across the board: “Today, the leading models of medium-large cars are said to have a range of 500 km: soon we will have a range of 1,000 km.” And then there are car prices. “Today, vehicles are more expensive because they are almost an artisanal product. But if the numbers become significant, then the ratio will be inverted. That is what happened with solar panels and mobile phones. Because in absolute terms an electric car, if produced at an industrial pace, would cost less than the others and would be affordable to run. The manufacturers have understood this. Electrical cars will be more democratic. And they may even make a profit.

In conclusion, Starace explained that the market is recognising the group’s efforts in this area: “It has seen that we are thinking ahead, it is judging our industrial transformation positively because it has understood that it is not just a desire but an approach that is enabling us to make profit. Everything that we do in our business is geared towards the future and towards innovation, and this benefits both the company’s balance sheet and its value. That is why we are being rewarded.

Enel editorial staff