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Italy in Favor of Capping EU Gas Prices

NATURAL GAS

Italy’s Minister of Ecological Transition Roberto Cingolani has called for a gas price cap of around 65% of cost at TTF hub this week.

  • "Currently our payment for gas is based on prices set at the TTF hub in the Netherlands. [This is] a volatile and in fact speculative market," he said.
  • "We pay for gas, heat and electricity at prices that have nothing in common with the volume. Each has own energy balance, and the only decision is to set a European gas price cap. Reaching 60-65% of the TTF price or pegging the cost to the price of liquified natural gas would already be a serious relief," the minister added.
  • "A decree with the package of 20 terawatt-hours of electricity to be provided at a controlled price in accordance with the list of energy-intensive companies agreed with Europe" will be passed on Wednesday, he added.
Energy BulletsCommodities
Energy BulletsCommodities

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