Meloni is preparing legislation to address the sharp increase in energy prices in Italy.

According to reports, Italian Prime Minister Giorgia Meloni plans to quickly introduce a new decree to deal with the surge in energy prices triggered by the conflict in the Middle East. The report states that Meloni is expected to discuss the measure at a cabinet meeting on Tuesday, but did not disclose the source of the information. It is not yet clear whether the decree will impose windfall taxes on energy companies, a possibility Meloni mentioned in a recent radio interview. "We are determined to combat speculation," Meloni reiterated on Italy's fourth television channel on Sunday. She had previously stated on RTL 102.5 radio on Thursday, "If necessary, I am also prepared to increase taxes on companies engaged in speculation and use this revenue to reduce residents' utility bills." The report notes that Italy's current mechanism for stabilizing energy price increases - refunding some fuel taxes when oil prices exceed a certain level - can lower consumer costs, but is limited in its effectiveness during sudden price surges.