Eliminating the PSV-TTF spread: distortive measures with unproven benefits

Energy Traders Europe wishes to share its views on the proposal currently under discussion regarding the elimination of the TTF-PSV spread (also defined as spread cap), included in the draft Decreto Energia. While we fully acknowledge the importance for the Italian industry to secure stable
and affordable gas supplies, we consider that the proposal, in its current form, entails significant
risks. In particular, we caution against State interventions that may have unintended consequences –
including supply shortages, and thus higher costs for both natural gas and electricity generation –
and that present elements of dubious coherence with EU legislation.