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Burning gas to cause electricity is "stupid," says energy giant CEO Enel
Italian energy company CEO Enel questioned the sustainable benefits of using gas to generate electricity, telling news it was "stupid" and that cheaper and better alternatives were already available. Speaking to CNBC'...
Updated: 48 months ago2 min read
Instead, Starace says there are more attractive alternatives.
Italian energy company CEO Enel questioned the sustainable benefits of using gas to generate electricity, telling news it was "stupid" and that cheaper and better alternatives were already available.
Speaking to CNBC's Steve Sedgwick at the World Economic Forum, Francesco Starace opened up about where Europe has come from over the years, reviewing the names Libya and Russia.
According to Eurostat, Russia was the EU's biggest oil and gas supplier last year. Now the bloc is trying to abandon Russian hydrocarbons after invading the country in Ukraine.
"I think that's a big warning," Starace said, adding that "too much gas is being used stupidly" because burning gas to generate electricity today is stupid.
"You can generate electricity better and cheaper without using gas. However, gases are valuable molecules, and you have to use them where needed," he added.
The industrial uses include the use of chemicals, the paper industry, and ceramics and glass, he said.
"Reserve gas for them," said the old man. "Stop using gas for heating, stop using gas for electricity if there is a better alternative.
Alternative methods of generating electricity include wind and solar power. However, fossil fuels will account for 37% of the EU's electricity generation by 2021. According to a news report by Ember, a tank focused on moving the planet away from coal for "clean electricity."
An Ember report published in February surpassed the above figure, saying that fossil gas power generates 18% of the EU's electricity, the lowest level in three years. Renewables accounted for 37 percent, while nuclear generated 26 percent of the block's electricity last year, Ember said.
Across the Atlantic, preliminary data from the US Department of Energy shows that natural gas will be used for 38.3% of utility-scale power generation in the United States by 2021.
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