EnergyWatch

Enel's next bet: technology, credit cards and electric cars

Italian utility Enel seems to be transforming in to a tech firm. "We are the Google of energy; The business models are the same," Enel X Chief Executive Officer Francesco Venturini said in an interview.

Francesco Starace, CEO of Enel Green Power, who shares his first name with the CEO of Enel X | Photo: Enel Green Power

The future of energy is not energy.  At least, not for Italy's Enel SpA.

Europe's biggest utility is quietly shifting hundreds of employees and senior managers to a newly refurbished office in Rome's suburbs – whose informal dress code, open-air spaces and shared kick scooters give it an air of a tech start-up. The unit, dubbed Enel X, is tasked with finding the next big money maker for Enel, transforming the utility into a technology company.

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