One of the most influential thinkers in the European utility sector, Enel chief executive Francesco Starace, has told Recharge that the price of carbon will not have a major influence on the future primacy of renewable energy.

“Are carbon markets instrumental for renewables? I'm telling you, it's irrelevant,”he tells Recharge.

“We shouldn't kid ourselves that carbon markets are the key to renewable growth. Renewables are going to take over both gas and coal, regardless of carbon markets. [It’s] just a question of a little earlier or a little later.”