ROME, (Reuters) – The Italian government is preparing new measures to aid consumers and companies affected by an increase in energy costs. A draft decree was seen by Reuters.

This package is due to be approved Friday by the cabinet. It adds to the approximately 10 billion euro budgeted from July 2013 to lower the price of rising oil and gas prices.

Draft showed that around 3 billion euro will be spent to eliminate a number of levies known as “system cost” levies. These levies finance anything from solar power subsidies and nuclear decommissioning.

The draft revealed that Rome will also introduce simplifications to accelerate the construction of renewable power stations.

Confindustria is an employer association that estimates energy costs will reach 37 billion Euros this year, compared to 20 billion Euros in 2021.

A government source said that the decree goes beyond energy cost caps and includes tax and spending breaks of up to 8 billion euros.

Giancarlo Giorgetti, Industry Minister, has asked for approximately 1 billion Euros in public money to encourage the purchase of cleaner vehicles.

Draft stated that between 2022 and 2030, additional funds will be provided to assist research and development of microprocessor technology. However, it did not say how much.

Intel (NASDAQ 🙂 and the Italian Government are discussing investments that could be valued at around 8 Billion Euros for a new semiconductor packaging facility.

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