EC to present final draft of gas price ceiling on November 24

The European Commission (EC) has prepared a draft document that includes a mechanism for introducing a dynamic ceiling on natural gas (NG) prices. The final version will be presented at the EU summit on Nov. 24, Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said in an interview published Saturday in La Stampa newspaper.

He said Italy is generally "positive" about the proposal. "So far we have an informal draft of the EC, which introduces a dynamic price ceiling. On November 24, a final text will be presented at the European Council, and we will look at the details. There is probably room for improvement, but in general, our requests are taken into account," said the Minister. According to him, this is the way to counteract market speculation and curb the rise in energy prices for private companies and households.

Pichetto Fratin assured that the floating regasifier will be installed off the coast of Piombino, despite the objections of the local authorities, with a guarantee of life not exceeding three years. The Italian government will continue to cooperate with regional authorities in order to increase domestic gas production. According to the minister, he is not personally opposed to the use of nuclear energy, but the decision in this regard should be made by the parliament of the next convocation and the government.