"The reference price of electricity for the standard household in the protected market, in the second quarter of 2023, decreased by -55.3% due to the sharp decline in wholesale prices of energy products". So a note from Arera, the Regulatory Authority for Energy, Networks and the Environment.

The performance of the energy markets has seen wholesale gas prices fall sharply in the current quarter, influenced by several factors, it is explained: a decreasing European demand (-13% in 2022 compared to 2021), a limited recovery in Asian demand for liquefied natural gas, the resumption of operations or new liquefaction terminals in the United States and regasification terminals in Europe.

The mild temperatures of winter 2022-2023 favoured a limited use of European storage (in mid-March still full at around 57% of their capacity) and forward prices indicate less tense conditions for the balance of gas supply and demand in the second quarter of 2023.

In detail of the individual components in the bill, for electricity the change of -55.3% in the final price of the standard family, which is thus 23.75 euro cents per kWh, is substantially linked to the sharp decrease in the energy item (PE) -60.9%, to a slight decrease in dispatching (PD) -1.2%, to an adjustment of the marketing items (PCV and DispBT) +0.5% and to the increase in system charges +6.3% following their reactivation. The regulated network tariffs (transport, distribution and metering) remained unchanged.

Implementing the provisions of the Government in the decree approved on 28 March, Arera intervened on general system charges, eliminating them also for the next quarter for the generality of gas customers and confirming the strengthening of electricity and gas social bonuses for families with Isee level up to 15,000 euros (with the Isee level for large families, with at least 4 dependent children, which rises to 30,000 euros).

General system charges are reactivated for all electricity customers, including households. These interventions, reads the note, are accompanied by the confirmation of the VAT reduction on heat management, district heating and gas at 5%. Also for gas, the negative tariff component UG2023, introduced in April last year by ARERA and applied to consumption up to 2,5 smc/year, is gradually reduced and then zeroed during the second quarter of 000. Already in the first quarter of 2023, based on preliminary data, the single national electricity price (PUN) was in fact down by about 36% compared to the fourth quarter of 2022, specifies the Authority.

"We are in a new and in a still delicate way of this very long crisis - says Arera president, Stefano Besseghini -. Wholesale gas prices highlight a market that has taken seriously the European effort to diversify and consolidate infrastructure. We see the signals quickly transferred to end consumers, also thanks to a regulatory system that works. However, we must not lose focus on the commitments made and on the implementation of the choices made".

Looking at the one-year time horizon, however, the growth of wholesale prices and the still high level despite the recent reductions is reflected in the overall expenditure for the electricity bill: in terms of final effects, the expenditure for the typical household in the current year, between 1 July 2022 and 30 June 2023 - will be around 1,267 euros, +33.7% compared to the equivalent 12 months of the previous year (1 July 2021- 30 June 2022).

"The new decrease in the reference price of electricity confirms that we are on the right track - highlights the Minister of Companies Adolfo Urso -. The decline, which derives from the sharp drop in wholesale prices and the measures put in place by the government in the last hours, is a significant result for the benefit of families and therefore of the Italian economy".