Italy's Prime Minister Mario Draghi, centre, talks, on the second day of a European Union summit at the EU Headquarters, in Brussels on March 25, 2022.JOHN THYS/AFP/Getty Images
The European Commission will discuss with all the involved parties options to ease the energy market crunch worsened by Russia’s invasion of Ukraine, Italian Prime Minister Mario Draghi said on Friday, including a proposal to cap gas prices.
“The European Commission will discuss with stakeholders, the large oil and electricity companies, distribution companies and others,” Draghi told a news conference after a summit of the EU leaders in Brussels.
“We expect to have some proposals by May,” he said.
He said the leaders agreed that any demand by Russia to receive payment in rubles for its gas exports would represent a breach of contract.
Draghi, who said he did not expect a reduction in gas supplies from Russia, last week approved measures worth 4.4 billion euros ($4.83 billion) to help Italian firms and consumers to cope with the surging energy costs.
The package comes on top of some 16 billion euros budgeted since last July to try and soften electricity and gas bills.
“Within two weeks we will be able to present a detailed diversification plan to the country,” Draghi said.
Earlier this week, the energy transition minister said Italy was looking to install two floating storage and regasification units (FSRU) to boost liquefied natural gas (LNG) imports as part of plans to cut reliance on Russian gas.
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