Italy could revert to coal plants if gas prices rise above €70, minister says

Italy could be forced to reactivate coal-fired power plants if gas prices rise above €70 (about $82) per megawatt-hour, Italian Environment and Energy Security Minister Gilberto Pichetto Fratin said on Monday.

Speaking on the sidelines of the 'Holy Grail of Energy' meeting in Milan, Pichetto said current gas prices remain well below that threshold, ANSA reported.

"It is a high figure. Today, we are around 40 euros, while the initial estimates were between 28 and 30 euros," he said.

However, in an emergency scenario, he said that "coal remains a residual solution, but in case of necessity, we must be ready."

Pichetto also ruled out any return to Russian gas imports.

"My personal position coincides with that of the Italian government, which is perfectly aligned with the European Union," he said, adding: "Any assessments will be made at the European level later on, but as of today, I rule out the return of Russian gas."

Commenting on tensions affecting global energy markets, Pichetto said he hopes the Strait of Hormuz will reopen and that talks between the US and Iran will resume.

"Here we are really facing surprises day by day, and it is difficult to predict what will happen in the coming days," he concluded.