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Francesco Starace at SPIEF 2019

The speech by Enel’s CEO Francesco Starace at SPIEF 2019

Enel Chief Executive and General Manager, Francesco Starace, was invited to discuss the role of the energy companies in the age of the Platform Economy, during a round table organised as part of the Saint Petersburg International Economic Forum (SPIEF), the annual summit that brings together the most important exponents of the world economy.

To adapt to the economy of the platforms, we must focus on digitalisation and full cloud computing in order to access a world of opportunities

Francesco Starace, Enel CEO

Over the next five years digital platforms will represent 5% of the total and 50% of the net profits of companies included in Standard & Poor's "Top 500”. The digital economy is already a reality, with major growth prospects for the future. This is what emerged during the round table on "A Strategic Pathway for Energy Companies in the Platform Economy.” The Enel CEO explained how the Group has been focusing on digitisation for some years, as a necessary growth factor for utilities: this is proved, for example, by the installation of 32 million electronic meters between 2001 and 2005, a world record. Francesco Starace also emphasised how the consumer benefits from this process. He gave the example of second-generation smart meters, which, through the exchange of bi-directional information, allow customers' appliances to receive real-time forecasts on the cost of electricity over the following hours, in order to be programmed to start working when it is more convenient.

It’s not only necessary to focus on digitalisation in the Platform Economy: the Enel CEO also pointed out that it is equally important to look at the cloud model. As of today, in fact, the Group has, after a three-year journey, become "full cloud"; a result, as stated by Francesco Starace, which opens up "a world of opportunities.” Digitisation can therefore be considered one of the greatest innovations of our time, essential to favouring the energy transition and encouraging sustainable development.

Enel editorial staff