Renewable power is becoming the “cheapest and most convenient way of producing electricity” and battery technology will gradually reduce the importance of natural gas to energy security, according to the head of Europe’s largest power company by market capitalisation. Francesco Starace, chief executive of Enel of Italy, said it was “obvious” that renewables were winning the battle for competitiveness against fossil fuels and nuclear power. “It is a matter of fact,” he told the Financial Times. “There is no discussion anymore.” His comments, ahead of his appointment on Monday as the new president of Eurelectric, which represents the European power industry, demonstrated the extent to which the region’s utilities are embracing the shift towards green energy as the cost of renewables plummets.
FT 19th June 2017 read more »