Italy Eyes €1.6 Billion Cut to Energy Bills by Curbing Gas Price

Italy plans to shave around €1.6 billion ($1.9 billion) off consumers’ energy bills by curbing wholesale prices for natural gas, despite concern about the legality and effectiveness of such a measure.

A draft decree seen by Bloomberg includes a tool that would align the nation’s gas contracts with Europe’s benchmark prices, making gas and electricity cheaper for end-users. The government is expected to discuss the plan before the end of the year, though the timing is not yet set.