Italy calls on the EU to reduce the gas price cap to 50-60 euros

Italy has proposed to the European Union to significantly reduce the gas price ceiling, setting it at 50-60 euros per megawatt-hour. This initiative was voiced by Italian Energy Minister Gilberto Pichetto Fratin in a radio interview, Ukrinform reports. 

“I believe that the EU should retain the mechanism of the gas price ceiling, but make it much lower than 180 euros, as it is now. The optimal level is 50-60 euros per megawatt-hour,” Fratin said. 

The Minister also assured that Italy has sufficient gas reserves to meet the country's needs for the next two months. According to him, the country's gas storage facilities are almost 80% full, which ensures stable supply during the cold season. 

The current market correction system, which limits gas prices in Europe, will expire at the end of January. Currently, it is only activated if the gas price exceeds 180 euros per megawatt-hour. However, this level has not been reached since the mechanism was introduced. 

The situation on the energy markets remains tense, especially after the termination of Russian gas transit. Nevertheless, the price of gas in Europe is currently around 49.85 euros per megawatt-hour, which is well below the critical level. 

Italy's proposal could be an important step in stabilizing the European energy market and ensuring more affordable prices for consumers. However, the final decision will depend on the position of other EU member states and their vision of gas market regulation.