How to deal with disruptions: the case of Engie │Thierry Lepercq (Executive Vice-President, Engie)

Nicolò Rossetto (FSR) and Thierry Lepercq (Engie) discuss the way Engie, a major European energy company, is dealing with the series of disruptions that are affecting the energy business, both electricity and gas. Engie is navigating through the changes in Europe and beyond, and has decided to sell or close some of its less profitable assets in power generation. At the same time, Engie is looking towards the future by investing in renewables. According to Mr Lepercq the future is the exploitation of solar energy in prime locations around the world, like Chile or Australia, to produce hydrogen and then deliver it to Europe at a final cost that is in line with that of liquefied natural gas. This could possibly contribute to the decarbonisation of the gas sector, safeguarding the European gas grid form becoming a stranded asset. Hydrogen could then be used for district heating and power generation, solving the issue of the intermittency and seasonality of most renewables. A 100% renewable future would become much easier and cheaper to achieve. In line with this vision, large energy companies will continue to play a key role, even if large power plants will decrease in relevance.