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Italy has approved a comprehensive decree aimed at bolstering its energy security and advancing renewable power production, as reported by Reuters on November 27. The package, endorsed on Monday, is anticipated to attract investments totaling EUR27.4bn (USD29.89bn). The measures include setting aside EUR350m annually until 2032 to fund projects overcoming local opposition to renewable plant installations, designating maritime areas in Southern Italy for offshore wind projects, and developing carbon capture and storage (CCS) facilities. The legislation prioritizes onshore liquefied natural gas (LNG) terminal projects for increasing natural gas supply. Notably, the decree omits the extension of a special regime for household electricity purchases, with concerns about potential conflicts with European regulations. Additionally, the plan excludes extensions for concessions managing hydroelectric plants but introduces a provision for the geothermal sector. Territorial authorities can now submit applications to host radioactive waste storage, expediting the identification of suitable storage areas.
As part of Italy’s commitment to boosting competition in the energy market under the post-COVID recovery plan, the government has dropped a plan to extend a special regime facilitating household electricity purchases at regulated prices. The decree, which had faced internal disagreements within the ruling coalition and undergone some scaling down, prioritizes renewable energy projects by allocating funds to overcome local opposition and designating areas for offshore wind projects. While onshore LNG terminal projects are deemed strategically essential, the decree also addresses carbon capture and storage initiatives. The legislation does not extend concessions for hydroelectric plant management, except for the geothermal sector, where companies may propose multi-year investment plans for concession extension. Furthermore, the decree allows territorial authorities to submit applications to host radioactive waste storage, streamlining the identification process for suitable storage areas.
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