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Italy's power tariffs drop 8% in Q2, gas tariffs fall 6%


ARERA cites bearish seasonality, wholesale prices

Spot day-ahead PUN price expected to fall 14% in Q2

Barcelona — Italy's power, gas and water regulator, Autorita di Regolazione per Energia Reti e Ambiente or ARERA, said late Thursday it will decrease both regulated domestic gas and power tariffs from April 1 by 8% for power and 6% for gas.

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It attributed the declines to lower prices in wholesale markets during the first quarter in advance of perceived seasonal variations for both products.

In the power market, the country's spot day-ahead PUN price is expected to fall 14% in Q2 from Q1, while gas demand is expected to decline across the region in the milder spring season, leading to an expected decline in wholesale Italian gas prices, ARERA said.

AEEGSI said its reference price for Q2 electricity would be Eur0.1898/kWh, down from Eur0.2063/kWh in Q1, with 44% of the tariff related to the cost of procurement, 20% for distribution, metering and related, 22% for system costs (generally renewable incentives) and 13% for taxes.

The cost of procurement was the largest bearish factor, contributing a 9% drop to the average cost per client.

For natural gas, AEEGSI said the reference price for the typical consumer would be Eur0.7232 per cubic meter in Q2, down from Eur0.7669/cu m in Q1, with 39% of that corresponding to raw material costs, 39% taxes, 18% transport and metering and 3% system costs.

The drop in raw material prices for the quarter was the largest weight on the tariff, while the transport component also fell due to a reduction in storage service costs, according to the regulator.

--Henry Edwardes-Evans,
--Gianluca Baratti,
--Edited by Wendy Wells,