Angelini (Bankitalia), 'there are no shortcuts on energy costs'

"There are no shortcuts on the cost of energy, nor interventions without difficulties." This is what the CEO of the Bank of Italy Paolo Angelini stated in his speech at the 10th Credit Day.

"In the presence of exceptional shocks, temporary and targeted measures can protect vulnerable families and the most exposed businesses; generalized and prolonged interventions would instead absorb large public resources, attenuate price signals and would not reduce dependence on foreign countries". For Angelini, therefore, "a structural response" is needed that allows us to "expand more rapidly the supply of electricity at the lowest cost and with low emissions, so as to reduce the hours in which the wholesale price is determined by the most expensive technologies; to speed up authorizations and connections; to invest in European networks, storage and interconnections; to improve energy efficiency".

Angelini also calls for "clear, stable and predictable public policies on the matter" and "fixed price or long-term contracts for the supply of electricity, already available for families and businesses".