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Starace speaks to the Financial Times

Starace analyses the effects of the energy transition for the Financial Times

In 10 years’ time, green technologies, which are innovative and less expensive, could replace the coal-fired power generation system in Europe. Enel's CEO Francesco Starace, in an interview with the Financial Times, analyzes the effects of this "turning point" and invites us to start "planning the future.” The CEO underlines that the rapid growth of renewables (in particular wind and photovoltaics) is, in terms of competitiveness, pushing the fossil fuel and electricity generation industry out of the market.

From this perspective, Francesco Starace wants companies, governments and other political decision-makers to plan the necessary actions for managing the inevitable transition. "What should we do when a primary product becomes obsolete? Can we prevent it from expiring beyond its time? Can we keep on telling people that everything is going well by continuing to do what we have always done?" the Enel CEO asks. “It’s better to face the truth and say: ‘Guys, this is what will happen in the next 5, 10, 20 years.’” Therefore it’s increasingly necessary to start planning the future.

The moment is now and it’s a moment of great awareness that we should be proud of, one in which we look at reality without panicking

Francesco Starace, Enel CEO

Francesco Starace also explains to the “FT” how this is a great opportunity for a Group for whom electricity is a core business. The demand for electricity is in fact destined to increase "faster than the world is growing.” And Enel, as the CEO reiterates in the interview, looks at "What the world is putting us before, without fear of the future.”

Enel editorial staff