Italy to approve measures this week to lower electricity prices, minister says

ROME, Nov 4 (Reuters) - Italy plans to approve this week a decree aimed at limiting the impact of sky-high gas prices on electricity costs for households and businesses, the energy minister said, following an agreement with European Union authorities.

• Rome will introduce a temporary cap of around €60 ($67.38) per megawatt hour on gas prices for gas-fired power stations

• Energy Minister Gilberto Pichetto Fratin told the Elettricita Futura business lobby he planned to draw up a summary of the scheme to be presented to the cabinet on Thursday

• The cabinet is expected to meet on Thursday at 1600 GMT, officials said.

• Under the decree, Italy will reimburse utilities running gas-fired stations any difference between the price of gas at the TTF exchange and the cap

• The measure is expected to be funded by increasing system charges in power bills paid by households and companies, Pichetto Fratin said in recent weeks($1 = 0.8905 euros)

(Reporting by Giuseppe Fonte; Editing by Jan Harvey)