Italy, 3 billion euros to reduce energy costs - The measure will serve to support families and businesses
Italy plans a series of measures worth around 3 billion euros to help households and firms cope with high energy costs.
Rising gas prices are a major problem for the Italian government, as they risk undermining the impact of tax cuts in the 2025 budget, which are intended to support the purchasing power of low- and middle-income earners.
The cabinet is also expected to approve the bill to allow nuclear power, after it was banned almost 40 years ago, a representative from the energy ministry said.
According to official sources, 2 billion euros will be used to support families and an additional 1 billion for small and medium-sized companies. The aid package will be effective for only three months, as Rome expects gas prices to fall as the summer months approach.
"We hope that in the next three months there will be a ceasefire between Russia and Ukraine, which would facilitate energy markets," say sources from the Ministry.
Italy has pledged to bring its budget deficit below the 3% of GDP limit in 2026 from the 3.8% targeted in 2024, leaving the country limited leeway to support the economy.
The nuclear energy legislation is part of a broader plan to build small modular reactors. These reactors could help decarbonize Italy's most polluting industries, including steel, glass and tile production.
Nuclear power plants were banned in Italy after referendums in 1987 and 2011, but the government is now drafting rules for their return.
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