Latest news with #GilbertoPichettoFratin
Reuters
07-07-2025
- Business
- Reuters
Italy to discuss gas measure for energy-intensive firms by month's end
MILAN, July 7 (Reuters) - Italy's government will discuss a long-awaited measure to offer gas at reduced prices to energy-intensive companies by the end of this month, the country's energy minister said on Monday. "We couldn't start earlier because the discussion with the European Union was still open. We didn't have the OK yet," Energy Minister Gilberto Pichetto Fratin told Radio24 in an interview. The initiative will follow the European Commission's approval in June of Italy's "Energy Release 2.0" scheme, which supports power-intensive industries and the nation's green transition. Under the scheme, electricity is provided at a fixed price of 65 euros per megawatt-hour in its initial phase, significantly below last year's average of 108.5 euros per megawatt-hour. Pichetto Fratin said the new gas measure could mirror the mechanism used for electricity under the approved scheme. However, the minister cautioned about potential challenges in securing suppliers willing to offer gas at discounted rates. "Discounted gas bidders are not so easy to find," he said. Gas prices heavily influence electricity costs in Italy, where more than 40% of electricity is generated from gas-fired power plants. Industries such as steel manufacturing, ceramics, and glass production are among the country's most gas-intensive sectors.
Gulf Today
03-07-2025
- Climate
- Gulf Today
New fire threatens homes in Greece as Europe bakes in heatwave
Firefighters battled a blaze Thursday on the island of Crete that scorched forests and olive groves and forced over 1,000 to evacuate, while a fresh conflagration near Athens threatened homes, highlighting Greece's vulnerability to wildfire risks. Italy's health ministry issued red alerts for 18 cities as temperatures poised to soar as high as 38°C in major cities. Temporary blackouts were possible with power consumption surging from the use of air conditioners, Italian Energy Minister Gilberto Pichetto Fratin warned. Swiss utility Axpo has shut its two reactor units at the Beznau nuclear power plant due to high river water temperatures. Gale-force winds and aridity made for tinderbox conditions, hampering Greek authorities' efforts' to tame the fires, as much of Europe baked in an early summer heatwave linked to the death of at least eight people across the region. An airplane drops water on a wildfire that broke up in Pikermi, east of Athens. AFP A new fire broke out in the Athens suburb of Pikermi on Thursday afternoon, threatening many homes and prompting the evacuation of three settlements as more than 100 firefighters battled to extinguish it. Thick grey smoke billowed over the area, close to the Athens international airport and Rafina, home to the capital's second largest port. The main avenue linking the suburb to Athens was closed to traffic. Authorities said there was a high risk of fires also on Friday. Flames rise next to houses as a wildfire burns in the town of Rafina, Greece. Reuters In Crete, around 230 firefighters, along with 46 engines and 10 helicopters, were deployed to contain the conflagration on Crete, which broke out a day earlier near Ierapetra town on the southeastern coast of Greece's largest island. Authorities declared a state of emergency in the wider municipal area of Ierapetra on Thursday, state broadcaster ERT said. The blaze encroached upon houses and hotels that were earlier evacuated, stoked by intense winds that 'rekindled and hindered firefighting efforts,' fire brigade spokesman Vassilis Vathrakogiannis said. A firefighting airplane drops water as a wildfire burns in Rafina, east of Athens. AP More than 1,000 residents and tourists were evacuated from at least four settlements. Most took shelter at an indoor stadium in Ierapetra, while others transferred to hotels in the north or left Crete by boat, authorities said. 'It was very scary,' said 26-year old Danish tourist Mikkel Sallin, who was evacuated to another hotel. 'We are just glad to stay here right now and feel safe.' Local media reported damage to some homes, and some people were hospitalised with respiratory issues, an official said. Southeastern Crete saw a massive exodus of about 5,000 holidaymakers, George Tzarakis, head of hoteliers in the area, told reporters, expressing concern over the impact on future bookings. Tourism is a key income earner for the popular tourist island. Firefighters gather on a field near the area where an airplane drops water over a wildfire that broke up in Pikermi. AFP Greece and other countries in the Mediterranean are in an area scientists dub 'a wildfire hotspot' - with blazes common during hot and dry summers. These have become more destructive in recent years due to a fast-changing climate. Scientists say heatwaves have arrived earlier this year, spiking temperatures by up to 10°C in some regions as warming seas encouraged the formation of a heat dome over much of Europe, trapping hot air masses. Meanwhile, in Turkey, thousands fled as authorities battled wildfires in Cesme and Odemis districts for a second day on the western coastal province of Izmir. Winds hindered their efforts as the flames approached a main highway to Cesme, local TV footage showed, and thick smoke billowed over mountainous areas. Separately, the Western Balkans faces a severe drought after a heat wave hit the region, disrupting daily life and creating issues with agriculture and power. Temperatures on Thursday in central Albania reached 40°C and meteorologists warned that there would be scarce rain until September. Rivers are almost dry because of a lack of rainfall during winter and spring. The soaring temperatures have pushed Albanian authorities to assist local agriculture with irrigation networks. Agencies
Reuters
27-06-2025
- Business
- Reuters
EU approves Italian energy scheme to support power-intensive industries
MILAN, June 27 (Reuters) - The European Commission has approved an Italian government scheme supporting power-intensive industries and the country's green transition, Italy's energy minister said on Friday. The Commission deemed the initiative, named "Energy Release 2.0", compatible with European Union internal market rules and state aid regulations, Gilberto Pichetto Fratin said in a statement. The scheme will provide electricity at a fixed price of 65 euros per megawatt-hour in its first phase. Last year the average price in Italy was 108.5 euros per megawatt-hour, according to government statistics. In return, beneficiaries must repay the advantage by investing in new renewable energy capacity, either directly or through third parties selected via auctions managed by Italy's energy agency GSE. "This is not a privilege but a tool to protect jobs, strengthen strategic supply chains, and attract investment," Pichetto said in a statement, thanking the European Commission for a "constructive dialogue". The head of Italy's main business lobby Confindustria last month urged the government to put in place urgent measures to lower energy costs, saying that the industrial sector suffered from power prices that were more than 35% higher than the European average.
Reuters
13-05-2025
- Business
- Reuters
Italian court partially cancels government rules limiting renewable projects
MILAN, May 13 (Reuters) - An Italian regional court has overturned some of the restrictions imposed by a recent government decree on the development of new renewable energy projects, a ruling published on Tuesday showed. As a consequence, the government will have to amend the decree issued last year, that mandated regional governments to identify so-called 'suitable areas' for green energy projects within six months. "The court ruling ... partially cancels the decree that we had prepared in agreement with the other ministries," said energy minister Gilberto Pichetto Fratin, adding the ministry would review the court's decision before revising the decree.
Yahoo
11-04-2025
- Business
- Yahoo
BW Singapore regasification unit to start operations in May
The BW Singapore floating regasification unit, moored 8.5km off Punta Marina in eastern Italy since 28 February, is set to commence operations in early May, enhancing Italy's gas capacity. The first US liquefied natural gas (LNG) cargo arrived on 3 April, marking the start of commissioning activities. The BW Singapore regasification unit, similar to the Italis LNG terminal in Piombino, boasts an annual regasification capacity of 5 billion cubic metres (bcm). The unit, acquired by Snam in July 2022, can function both as a floating storage regasification unit (FSRU) and as a carrier for LNG transport. Upon operation, Italy's total regasification capacity will increase to 28bcm annually, matching the volume imported from Russia in 2021. This capacity will cover 45% of Italy's domestic gas demand, offering diverse supply routes and mitigating geopolitical tensions. Snam CEO Stefano Venier confirmed the operational readiness during a visit to the offshore terminal by Environment and Energy Security Minister Gilberto Pichetto Fratin and Emilia-Romagna Region President Michele de Pascale. 'With the entry into operation of the Ravenna terminal, we are adding another fundamentally important element to the process of securing the country's energy supply, which began in the aftermath of the Russian-Ukrainian crisis and has been made possible by the joint efforts of institutions and companies at both national and local level,' Venier said. "We are not only keeping on schedule, we are also showing that this can go hand in hand with environmental protection and monitoring,' he added. Snam recently agreed to acquire a 24.99% stake in Vier Gas Holding (VGH) from Infinity Investments, an investment vehicle of Abu Dhabi's Investment Authority, for €920m ($1.02bn). VGH fully owns Open Grid Europe (OGE), Germany's largest independent gas transmission company. OGE manages a 12,000km network with an annual offtake volume of around 21bcm, serving more than 400 end customers. This acquisition provides Snam with a minority share in OGE, facilitating its participation in the German gas market and potential expansion in Europe's energy infrastructure. "BW Singapore regasification unit to start operations in May" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
