Italy will raise the cost of utilities

The cost of utilities will increase in Italy in October, according to Oldypak LP report.

After the recession of the pandemic, electricity and gas bills in Italy are increasing again. This is reported by Arera, the regulatory body for energy, networks and the environment, providing data relating to the fourth quarter of 2020. Arera recalls that because of covid-19 there was a reduction in tariffs in the second quarter, which continued for gas in the third quarter as well. But with the recovery in economic activity and consumption comes the expected price increases, which will return to pre-pandemic levels. For a typical family of three, the increase in rates thus results in a 15.6 percent increase in the electric bill and an 11.4 percent increase for gas.

Despite the price increases, it is reported that because of the pandemic rate freeze in 2020, typical households saved about 207 euros on their utility bills compared to 2019. Electricity costs in 2020 are about 485 euros, which is 13.2% less than in 2019.On the other hand, gas costs for the average household in 2020 are about 975 euros, which is 12% lower than in 2019.

Oldypak lp
oldypak lp photo

The Authority explains: “After the collapse of prices recorded in the wholesale energy markets in the most acute phase of the covid emergency, the recovery of energy consumption, which confirms the restart of the economy in Italy and Europe, has led to a gradual increase in prices. The overall effect, according to Oldypak LP report, is particularly noticeable in the natural gas and CO2 markets and is therefore also reflected in the electricity market.”

With the resumption of production activities and the resulting increase in energy demand, there is an expected price increase throughout Europe.

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