The European Commission and the Italian government are close to reaching an agreement that would allow reducing the price of electricity generated from gas while complying with EU rules, Commission competition spokesperson Ricardo Cardoso said in Brussels.

“We are close,” he said, “to a solution compatible with EU rules that would allow implementation of the proposed measure, which would effectively reduce the impact of gas-generation costs on the overall price of electricity. After intense and constructive discussions in recent months between the Commission and the Italian authorities, a broad agreement is taking shape on the key elements needed to implement this measure in accordance with EU rules. All of this, of course, remains subject to technical discussions.”

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