Italy Describes Soaring Energy Prices as Economic Threat

(MENAFN) Italian Premier Giorgia Meloni stated on Tuesday that rising energy prices represent the most pressing economic obstacle facing her administration.

Speaking during the annual assembly of Confindustria, Italy's leading business association, held in Bologna, Meloni emphasized her government's concern over the burden of energy expenses.

In her address, Meloni revealed that officials are currently examining whether these elevated costs are being influenced by market manipulation.

“The government is working on an analysis of the functioning of the Italian market to understand whether possible anomalies in the formation of the unique national price could be the cause of unjustified price increases,” she remarked.

She stressed that “if there were speculations on the backs of who produces and creates employment, it would be unacceptable.”

These comments came in response to a prior speech by Confindustria President Emanuele Orsini, who underscored the need for urgent energy price reform.

Orsini expressed concern that Italian firms are struggling due to excessive energy charges, which place them at a disadvantage compared to other European competitors.

“Our companies continue to suffer from an energy (price) surcharge of more than 35% over the European average, even reaching peaks of 80% when compared to the largest European countries,” he said.

To address this challenge, Orsini urged changes to how electricity rates are set, calling for reductions in the fixed expenses businesses must bear, especially those linked to energy.

Additionally, he advocated for easing restrictions on the development of renewable energy sources and reopening the debate on nuclear energy, which has been prohibited in Italy since 1987.

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