Italy’s revision of energy strategy welcomed

Italy’s plan to revisit energy strategy and further decarbonise the economy has been welcomed. A new report from the International Energy Agency (IEA) supports Italy’s decision to update its 2013 […]

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By Jonny Bairstow

Italy’s plan to revisit energy strategy and further decarbonise the economy has been welcomed.

A new report from the International Energy Agency (IEA) supports Italy’s decision to update its 2013 National Energy Strategy (NES) and suggests a number of areas to concentrate on.

The NES originally outlined clear goals to tackle climate change, strengthen energy security and foster sustainable economic growth in the lead up to its 2020 targets. It was praised by the IEA but the agency said that monitoring its implementation and maintaining momentum into the future could prove a challenge.

Italy’s revision of the plan will extend green plans up to 2050, taking into account the EU 2030 energy package and the impacts of the Paris Agreement.

It also aims to take a lead role in implementing the EU Roadmap 2050.

The IEA report suggests Italy needs to work with banks to develop new programmes for financing long-term investment in energy efficiency.

It also says the costs of renewables must be managed by introducing policies to bring deployment costs towards international benchmarks. The IEA also said that previous renewable support mechanisms in Italy have created uncertainty and have had negative implications on investor confidence.

The report says development in the natural gas sector must speed up if Italy is to realise its stated ambition of becoming a gas hub in Southern Europe.