End green subsidies says Enel boss

Fulvio Conti describes some of Italy's tax laws as 'insanity'

Fulvio Conti describes some of Italy's tax laws as 'insanity'

The head of Italian power company Enel has urged EU governments to scrap renewables subsidies, to ease the burden on utilities.

Chief executive Fulvio Conti says that if governments keep levying taxes and drying up cashflows, shareholders will continue to walk away.

Analysts see the utilities sector as incapable of attracting investment after years of recession, with the demand for power declining. “This is true for all of Europe, making the overall energy industry uninvestable,” Conti says.

He claims that subsidies for renewables needlessly raise prices for consumers.

“They should try to reduce or repeal the incentive system given to renewables. We are at the stage of maturity now that we should be Log in to read complete article.

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