Economy

Dear bills: new increases expected in the next quarter

Between 1999 and 2007 the liberalization of the electricity market was implemented in Italy. All things considered, the transition to the free market has made itself felt in the pockets of Italians. As he reports Milan Financethe margin of those who buy electricity on the electricity exchange and then resell it to their users can reach up to 50 percent. This practice has been implemented for a long time, approximately since the electricity liberalization regime was implemented; initially gradually, finally extended to all users from 1 July 2024, except for the 3.8 million vulnerable customers (by age, economic situation or disability).

We are therefore faced with a paradox, that of a liberalization that increases prices rather than decreasing them. It’s not even the ones who are saved vulnerable customerswhich saw a 12 percent increase in bills in the third quarter of 2024, attributed by Arera “to the overall increase in spending on energy”. But the worst blow for Italian families is coming in the next quarter, and according to some estimates will see an 18 percent increase in bills. We are talking about approximately 250-300 euros per year for each user.

According to Pier Luigi Bersani, who spoke on DiTuesday on la7, one of the reasons for these increases lies in the changed role of Single Buyerthe company controlled by Energy Services Managerwhich since 1999, the year it was founded, has had the task of buying and selling energy at moderate prices. Until a few years ago it did so through long and medium term contracts, which guaranteed lower prices. Since 2016, however, contract prices have been aligned with those of the stock exchangewith “the exclusive reference to the price formed in the spot market for the purposes of quantifying the purchase costs incurred by the Single Buyer for the supply of the electricity necessary to satisfy the needs of the customers of the ‘Major Protection Reformed’ service” . In short, the ball has passed to the electricity exchange.

It is worth remembering that the electricity market in our country was liberalised, following input from the European Union, in 1999 and 2007, with decrees called “Bersani” And “Bersani bis”. The price adjustment of Single Buyer contracts, however, was made during the end of the government Renzi and the beginning of that Gentlemen.

The transition to the free market has created surreal situations. Such as the impossibility for Single Buyer to continue to stipulate those medium or long-term contracts useful for maintaining low prices. It also has to obtain supplies from sellers who base their prices on the prices of the electricity exchange. Price volatility, speculation and geopolitical tensions linked to the conflict in Ukraine did the rest.

From an estimate made on 2022 data, cited by Milano Finanza, when energy prices had skyrocketed due to the Russian invasion and sanctions, it can be seen how the difference between a medium or long-term contract and stock market prices could have resulted in a saving of one billion euros on the bills of the protected market. As always, it is the citizens who pay, including the vulnerable ones.