Posts Tagged ‘Enel’

I vote for stupid comment.

The CEO of Italian power firm Enel has cast doubt on the continued benefit of using gas to produce electricity, telling CNBC it is “stupid” and that cheaper and better alternatives are now available.

“You can produce electricity better, cheaper, without using gas … Gas is a precious molecule and you should leave it for … applications where that is needed,” he added.

Francesco Starace to CNBC

Gas is scarce and expensive in Europe because of bad foreign and energy policy decisions, most notably dependence on Russia and unrealistic expectations regarding renewables. Mr. Starace seems intent on doubling down on the latter. Of course, Enel is a large renewable energy generator and a natural gas purchaser and consumer (not a producer). His comments are thus rather self-serving.

I do agree with Enel on CCS:

Although the company could rely on carbon offsets or carbon capture to hit that target, Bernabei said the technology has failed to take off, despite receiving funding from the EU and national governments. He said there is no reason to expect that situation to change, especially since carbon capture and storage, or CCS, technology is not guaranteed to eliminate 100% of emissions.

“These are very big and complex projects. And at the end, they will not solve the problem,” Bernabei said. “We already tried CCS in the past and it didn’t lead to success. So why do it again?”


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