Italy to spend EUR 2.8bn on shielding consumers from high energy prices

State aid targets the first quarter of 2022 and will include EUR 800m of savings tied to tax system changes and unused money from months prior.

Photo: SNAM/REUTERS / X80001

Italy's ministry of finance informs of plans to spend around EUR 2.8bn from the country's 2022 budget on protecting consumers from rising energy prices.

The state support targets the first quarter of next year and will include EUR 800m of savings related to changes in the tax system as well as unutilized funding from preceding months, say sources with knowledge of the matter to Bloomberg News, while a civil servant from the Italian Ministry of Finance has confirmed the sum without giving further comments.

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