CEO Massimiliano Bianco added it would be "compensated for".

Earlier this week, the Italian government said it would raise its windfall tax on energy companies to 25% from 10% to help fund a package to shield firms and families from surging energy costs as the war in Ukraine escalates.

($1 = 0.9439 euros)

(Reporting by Giancarlo Navach, writing by Giulia Segreti, editing by Maria Pia Quaglia)