Italy’s Costs to Import Energy Will Double to 100 Billion Euros

Italy’s Costs to Import Energy Will Double to 100 Billion Euros
A gas burner is pictured on a cooker in a private home in Bordeaux, soutwestern France, on Dec. 13, 2012. Regis Duvignau/Reuters
Reuters
Updated:

CERNOBBIO, Italy—Italy’s net energy import costs are set to more than double this year to nearly 100 billion euros ($99.5 billion), the economy minister said, warning Rome could not spend indefinitely to cushion the blow on the economy.

Italy relies on imports for three-quarters of its power consumption, increasing its vulnerability to Europe’s current energy crisis.