The strengthening of the recovery in economic activity and consumption in Italy is driving up energy prices and consequently, household bills. In this sense, things are almost back to pre-COVID levels, with electricity bills rising by 15.6% and gas bills by 11.4%.
This rebound comes after the sharp falls seen in the second quarter of 2020 (-18.3% for electricity and -13.5% for gas) continued in the third quarter for gas (-6.7%), with a slight increase in electricity prices (+3.3%). In 2020, in any case, the typical household will however benefit from a total saving of around 207 euros/year compared to 2019.
What changes in detail? As far as electricity is concerned, in 2020 the expenditure for the typical household will be about 485 euros, with a variation of -13.2% compared to 2019, with a saving of about 74 euros per year. As far as gas is concerned, in 2020 the expenditure for the typical household will be about 975 euros, with a variation of -12% compared to the 12 months of the previous year, with a saving of about 133 euros per year.
In a statement, Arera, the Italian independent Authority for energy, networks, and environment, stressed: "In the third quarter of 2020 the National Single Price (PUN) of electricity was about 42 €/MWh, compared to 25 €/MWh in the second quarter, with an increase of about 70%. In particular, last August, the PUN recorded an average value of 40.32 €/MWh, which in September should be around 49 €/MWh, the level of a year ago. For the fourth quarter of the year, forward markets indicate that current price levels will be maintained. As far as gas is concerned, the forward price recorded on the wholesale market for the fourth quarter of 2020 is up 96% on the previous quarter, reflecting both the seasonality of consumption and the improvement in economic expectations".
The president of Arera, Stefano Besseghini, commented on the data as follows: "The energy system is gradually recovering the positions it had before the COVID health emergency. With the recovery of production activities and the consequent increase in energy demand, the foreseeable rise in prices across Europe is underway, Italy included. The general picture will also be influenced, in the coming months, by the choices that will accompany the Government's "Recovery Fund", the support given to future renewable sources in particular".