“with wind the single-biggest contributor… Power production costs have declined “by almost half” … And the clean energy sector has created 50,000 new jobs… Ask me what was the impact on the electricity sector in Uruguay after this tragic war in Europe — zero.”
The reference to waste heat could include the heat from burning fossil fuels that isn’t turned directly into work. Which is a lot.
So you’re right, there will still be some waste heat and the reduction in production needs won’t be that drastic. But it’s still a significant chunk of the total!
Converting energy to power will always produce at least one of heat or light (also radiant heat) in the process.
There is no 100% efficient power.
But, electric is the closest you could get. Especially compared to any petroleum products