Enel CEO Francesco Starace photographed in 2019. In an interview with CNBC on May 24, 2022, Starace said “you can produce electricity better, cheaper, without using gas.”
Giulio Napolitano | Bloomberg | Getty Images
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.
Speaking to CNBC’s Steve Sedgwick at the World Economic Forum, Francesco Starace discussed where Europe had sourced its gas from over the years, name-checking both Libya and Russia.
Russia was the biggest supplier of petroleum oils and natural gas to the EU last year, according to…