Enel CEO: Invest in energy innovation
The chief executive of Italy’s largest power company, Enel, has called for greater investment in European energy industry innovation to help reduce costs.
Fulvio Conti made the comments at the Eurelectric conference in Brussels, the body representing European electricity companies. Conti added that it was important for power firms to develop new technologies and work more closely with consumers.
Speaking to delegates, the business leader said: “We have to explore new ways to interact with others, with a new technology mix and with the end user – this is highly capital-intensive, requiring high upfront capex. A support policy framework is needed. Policy makers have a strong responsibility in aligning policies and agendas…we need supportive governance.”
A report was also presented to attendees outlining how greater innovation investment in the sector would help boost the EU’s GDP whilst cutting energy bills for consumers, although action would have to be taken now for the benefits to be realised.
The report outlined: ‘New technology breakthroughs and business model innovation in power generation and downstream energy services could unlock up to €70bn in 2030…it could also reduce power generation costs by 11%.’
Investment in energy is a key societal challenge under Horizon 2020.
