Enel CEO Flavio Cattaneo stated on Monday that energy prices in Italy are unlikely to decrease in the near future. He cited structural issues and the absence of nuclear power as significant factors.
“I don’t think we can expect big changes in energy prices in Italy,” Cattaneo said during the Capital Markets Day in Milan, where Enel presented its 2025-27 strategic plan. “In Italy, we have a structural problem – we aren’t increasing generation, but we are increasing consumption. And, unlike France, we do not have nuclear power.”
Italy abandoned its nuclear power program in 1987 following a referendum after the Chernobyl disaster. However, Premier Giorgia Meloni’s government supports a return to nuclear energy, proposing a mix of renewables with 10% nuclear power, relying on advanced small-scale reactors built by the private sector. Despite this political backing, Enel’s new strategic plan excludes nuclear energy. “It takes years to build nuclear power plants, at least 10, many more years than those covered by this plan,” Cattaneo explained. “Nuclear power is not included in this plan, and we will probably not put it in the next plan either.”
Enel announced plans to invest around €43 billion between 2025 and 2027. Approximately €26 billion will go towards grid improvements, with 78% allocated to Italy and Spain and the rest to Latin America. Enel will also invest €12 billion in renewables, aiming to add 12 GW of capacity and increase total production by over 15% by 2027. The company expects its overall capacity to reach approximately 76 GW, with a technological mix including over 70% onshore wind and dispatchable technologies like hydro and batteries.
