“UTILITIES NEED TO FIND NEW REVENUE STREAMS AND BUSINESS MODELS”

How has life changed for companies as countries move towards renewables and fossil fuel prices rise again?

Claudio: If we set aside for a moment the hike in fossil fuel prices, the pandemic and the crisis we are managing, we had invested in this transformation a few years ago. Our partners, customers and other stakeholders in this industry are going through a tremendous transformation, driven by rising penetration of renewables. Certainly, the drive is stronger now than a few years ago, thanks to the need for de-carbonising. Electrification is becoming more and more the centre-piece of this transition. We saw it coming a few years back. Increase in share of renewables and enabling technologies will make electricity the main source of energy. We will need more efficient ways to distribute electricity.

At the same time, the electrification drive and new