Policy & Regulation

27 Oct 2022

Italy’s Windfall Tax on Energy Companies Needs to Be Rewritten - PM

27 Oct 2022  by   

Italy's Prime Minister Giorgia Meloni speaks next to Infrastructure Minister Matteo Salvini as they attend a session of the upper house of parliament ahead of a confidence vote for the new government, in Rome, Italy, October 26, 2022. REUTERS/Guglielmo Mangiapane

Italy needs to rewrite its windfall tax on energy companies that have benefited from surging oil and gas prices, Prime Minister Giorgia Meloni told parliament on Wednesday.

The previous government led by Mario Draghi expected to fund part of its measures to soften the impact of the energy crisis on firms and families through a 25% windfall tax on energy groups, but revenues have proved much lower than expected.

Meloni also said her government was ready to work on national measures to separate gas price from those of other energy sources, provided rules could be agreed at the European level.


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