Italian Municipalities Need Additional $1Bln To Tackle Rising Energy Prices - Association

The National Association of Italian Municipalities (ANCI) said on Thursday it will need extra 1 billion euros ($980 million) from the new Italian government to tackle rising energy prices in the coming months

ROME (UrduPoint News / Sputnik - 06th October, 2022) The National Association of Italian Municipalities (ANCI) said on Thursday it will need extra 1 billion Euros ($980 million) from the new Italian government to tackle rising energy prices in the coming months.

"Municipalities spend an average of 1.8 billion (euros) on energy costs every year. This year, the increase in energy spending may exceed 100% in some municipalities. On balance, they will need another billion (euros) to continue to provide energy-related services, close this year's budgets and set those of 2023," ANCI general secretary Veronica Nicotra was quoted by Tgcom24 broadcaster as saying.

To close budgets of this year, Italian municipalities need 200 million euros, which should be included in the fourth relief package the new government may soon adopt, according to the association.

Another 800 million euros should be allocated as part of the state budget for 2023.

The ANCI estimated that around 15% of Italian cities have faced financial difficulties, with municipalities in north Italy experiencing harsher consequences of rising energy prices, as they use more heating compared with the southern parts of the country.

Since 2021, energy prices in Europe have been surging as part of a global trend. After the beginning of Russia's military operation in Ukraine in February 2022 and the adoption of several packages of sanctions against Moscow by the West, fuel prices have accelerated the growth, pushing many EU governments to resort to contingency measures.