Enel Chile S.A. (ENIC) Names New CEO to Lead Grid Overhaul

We recently compiled a list of 10 Cheap Utility Stocks to Buy According to Hedge Funds. Enel Chile S.A. stands eighth on our list.

Enel Chile S.A. (NYSE:ENIC), the country’s largest listed electricity utility, focuses on electricity generation, transmission, and distribution with a strong commitment to renewable energy and grid modernization. Operating under a regulated framework, the company ensures service reliability and maintains stakeholder confidence.

A key recent development is the leadership transition effective July 1, 2025. Former CEO Giuseppe Turchiarelli, who oversaw a 1.9 GW renewable energy build-out and accelerated decarbonization efforts since March 2024, stepped down to join Enel Group’s corporate strategy team in Rome. He is succeeded by Gianluca Palumbo, a veteran electrical engineer from Enel Group with deep expertise in grid operations and digitalization.

Palumbo’s appointment signals a strategic shift toward intensifying grid modernization and digital transformation, critical elements in Enel Chile S.A. (NYSE:ENIC)’s three-year plan. The company is expected to unveil a revised capital expenditure roadmap in August 2025, focusing on smart grid infrastructure to support Chile’s goal of reaching 93% renewable energy capacity by 2027.

Enel Chile S.A. (ENIC) Names New CEO to Lead Grid Overhaul

High-voltage power lines. Electricity distribution station. high voltage electric transmission tower. Distribution electric substation with power lines and transformers.

Despite a July 2025 stock downgrade by Citi due to regulatory and sector uncertainties, Enel Chile S.A. (NYSE:ENIC) remains operationally resilient and continues to draw interest from investors seeking cheap utility stocks with long-term growth potential.

While we acknowledge the risk and potential of ENIC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ENIC and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.