Home Business Enel, CEO Starace: Italy can sustain winter without Russian gas, on the price cap error that Europe does not find agreement

Enel, CEO Starace: Italy can sustain winter without Russian gas, on the price cap error that Europe does not find agreement

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Enel, CEO Starace: Italy can sustain winter without Russian gas, on the price cap error that Europe does not find agreement

Thus the CEO of Enel, Francesco Starace, during the conference call called to comment on the Group’s results for the first half of the year on the issue of Russian gas:

“The Ministry of Transition has indicated that the filling of the storages is proceeding with the targets; with storage at full capacity, Italy can endure a winter without Russian gas ”.

However, Starace added that the fact that “Europe cannot agree on a gas price cap is a mistake”.

The CEO of Enel, in answering some questions on the market trend in 2023, expressed himself as follows:

“In 2023 we expect markets to remain difficult, unless there is an EU-wide agreement on the gas price cap, which we do not see in 2022, and electricity prices will remain tense and high. However, our system protects us and allows us to increase our margins in a sustainable way ”.

Enel ended the second half of the year with a group net result of € 1.693 billion (€ 1,778 million in the first half of 2021, -4.8%). Revenues were equal to 67.258 billion euros (36.2911 billion euros in the first half of 2021, + 85.3%).

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