According to Reuters article published on December 28, 2022, the Italian government plans to allow utilities to go ahead with changes to expiring gas and electricity supply contracts which the antitrust authority had suspended, according to a draft decree seen by Reuters.
It will however extend by two months to June 30 a suspension to changes made to non-expiring contracts, the document read, as it seeks to help firms and households cope with soaring energy prices.
Italy's antitrust authority earlier this month had targeted several companies, including Eni (ENI.MI) and Enel (ENEI.MI) for alleged violations in price setting, alleging their conduct contravened an Aug. 9 government decree.
It suspended the validity of contracts from Aug. 10 this year to April 30 2023 that allowed the companies to change their prices.
In a statement on Dec. 14, Enel said it would appeal the watchdog's move and that changes to terms of expired and expiring contracts subject to a potential renewal should not be affected.
The firms involved, which also included Hera (HRA.MI), A2A (A2.MI), Edison (EDNn.MI), ACEA (ACE.MI) and French group Engie (ENGIE.PA), make up roughly 80% of the Italian market.
