In a speech at the Chamber of Deputies prior to the European Union’s Summit, to be held in two days, the head of Government called for a shared approach on purchases and reserves in order to strengthen the contractual power vis-a-vis suppliers, and “protect each other in the event of isolated shocks.”

In this regard, Draghi reiterated the need to set a European ceiling on gas prices and to separate them from those of electricity, which is partially generated as alternative sources with much lower production costs.

It is essential to bet on renewable energies and give a central role to the southern shores of the Mediterranean Sea, he said, stressing that “in all these fronts, I expect that the European Council will take ambitious decisions that can be quickly implemented.”

On the other hand, he noted that as agreed by the European Council last week, “the economic relapse due to the conflict in Ukraine goes beyond the cost of energy” and includes food prices, “which have risen almost continuously since the mid-2020s and are currently at record highs.”

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