ENEL - The Challenge of Sustainable Energy for All
With billions of people on the wrong side of the energy divide and unable to live in healthy environments, a better regulatory framework and genuine market liberalisation will help bring sustainable energy to all
In a world where 1.3 billion people still have no access to electricity and around 2.6 billion cannot cook their food in a clean and healthy manner, providing energy to all so that everyone can lead a healthy and productive life is one of the most important challenges facing humanity. And according to the International Energy Agency (IEA), development of the competitive, sustainable technologies needed to take on this challenge require an investment of at least $1trillion between now and 2030.
All of this was dealt with by Fulvio Conti at the recent meeting of Heads of G20 States and Government that took place in St. Petersburg, where the Enel CEO chaired the task force for Innovation and development as a global priority.
Due to the amount of investment required, every opportunity needs to be taken advantage of in a market in which technologies can compete on equal terms and whose prices are not distorted. ‘Only a fully liberalised market can generate the right level of cash flow for these investments and help allocate capital effectively,’ Conti said.
Everyone, from institutions, associations and the private sector needs to be involved, because a harmonised, stable global and local legal framework needs to be designed, while the reliability of energy systems also need to be guaranteed. ‘This means that we must not rely on a single source or technology. Instead, we must count on a balanced generation mix, which includes fossil fuels, nuclear power and renewable energy. Additionally, we have to develop technology that will distribute energy in an efficient manner,’ Conti added.
The private sector should have a key role, which can only be ensured by guaranteeing appropriate remuneration for their commitment and investment and clear and stable market rules and mechanisms, as well as reliable intellectual property rights, which will help increase trust among potential investors.