It could be. That was the mistake Pons & Fleischmann made, saying that it was a nuclear process. If it IS a super-duper-chemical process, it has the potential to replace all coal-fired power plants in the world, as well as bring electricity generation down to the level of single households.
It could be argued that is possible now with natural gas microturbines. Plus, in the colder climates the waste heat can be folded into a heating system.
CC