Published by Global Banking & Finance Review®
Posted on March 5, 2026
2 min readLast updated: April 2, 2026
Add as preferred source on GoogleItaly’s Prime Minister Giorgia Meloni announced readiness to raise taxes on companies that speculate on energy prices amid Middle East–driven gas supply volatility, supporting such measures with a recent IRAP hike on energy firms to fund €1 billion in relief. She also urged an EU freeze or reform of
ROME, March 4 (Reuters) - Italy is ready to hike taxes on companies that take undue benefits from the rise in gas prices triggered by the Middle East crisis, Prime Minister Giorgia Meloni said on Thursday.
In an interview with radio broadcaster RTL 102.5, Meloni also reiterated Italy was in favour of freezing the ETS carbon-permit scheme to soften energy bills across the European Union.
"We will do everything we can to stop speculation. I am ready to react, if necessary, even by raising taxes on companies that may speculate on prices through energy bills," Meloni said.
Her remarks come just a few days after Italy increased its IRAP corporate tax on energy firms to help fund an aid package for families and businesses, in a move that would yield state coffers around 1 billion euros ($1.16 billion) through 2028.
EU leaders are assessing ways to curb volatility in the EU carbon market, as part of a revision of the market planned for later this year.
Meloni said the ETS scheme should be reviewed to avoid affecting companies producing energy from renewable sources.
The Emissions Trading System (ETS), which is the EU's most important climate-change policy, forces power plants and industries to buy CO2 permits when they pollute - and caps the number of permits in the market - to curtail emissions over time.
"We have always called for the cost of ETS to be separated from the pricing of renewable energies such as hydroelectric and solar power, in order to lower energy costs," Meloni said.
Italy, however, triggered widespread criticism last month for adopting a reimbursement scheme benefitting thermoelectric producers, with green energy advocates saying the move would favour fossil-fuel-based producers.
($1 = 0.8617 euros)
(Reporting by Claudia Cristoferi and Giuseppe Fonte, Editing by Alexandra Hudson)
Italy wants to discourage companies from profiting unduly from rising gas prices linked to the Middle East crisis.
Italy recently increased its IRAP corporate tax on energy companies to help fund aid packages for families and businesses.
Prime Minister Meloni supports freezing or revising the ETS scheme to reduce energy bill impacts and prevent harm to renewable energy producers.
The tax hike is expected to yield around 1 billion euros through 2028.
Italy has faced criticism for adopting a reimbursement scheme that may benefit thermoelectric (fossil-fuel-based) producers over green energy producers.
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