Price cap italia?
The price cap, which will be in place between December 1, 2022, and June 30, 2023, is at $190 (180 euros) per megawatt-hour (MWh), per EU regulations.
After some tight negotiations, the European Council agreed in December on a price cap of €180/MWh. TTF prices have been falling since the summer peak of 2022, and are now (January 2023) around €60-€70/MWh, very far from the value at which the EU limit would become operative.
For now, the cap is triggered if prices exceed 180 euros ($196) per megawatt hour for three days on the Dutch Title Transfer Facility (TTF) gas hub's front-month contract.
Italian wholesale electricity prices have almost tripled in the last year, and the majority of this increase can be attributed to soaring gas prices. Italy relies on fossil gas for 50% of its electricity production, and gas prices have more than quadrupled since January.
The price limit agreed in Brussels last December came into force on Wednesday and restricts the amount the region will pay for natural gas at €180, equivalent to $192, a megawatt hour.
Berlin fears that a bloc-wide price limit on gas price imports would have a negative impact on supplies.
The price must be above the cap price for three working days and be €35 per megawatt hour above an average of global liquefied natural gas prices. Then the cap will remain in place for 20 days, after that date it will cease if trade is then below the cap price for three working days.
The electricity price brake set a cap at €0.40/kWh for 80% of electricity consumption for households and small enterprises with a consumption of up to 30,000 kWh, and of €0.13/kWh for up to 70% of the electricity consumptions for medium and large enterprises with a consumption of over 30,000 kWh.
The increase in wholesale electricity prices reflects the surge in natural gas prices and shortfalls in nuclear and hydroelectric generation, which have had to be supplemented with power from more expensive coal and gas plants.
The European Commission (EC) is part of the executive of the European Union (EU), together with the European Council. It operates as a cabinet government, with 27 members of the Commission (directorial system, informally known as "Commissioners") headed by a President.
What is the average utility bill in Italy?
The average cost of utilities is €100-150 per month. Internet in Italy - 37 €/month. Tariff plan for a mobile phone – 25 €/month (3Gb of Internet + calls).
Water. The average Italian household spends around €37 per month on their water bill. However, the cost will vary greatly depending on the geographical location. Families in Florence can spend up to €59 per month, whereas families in Milan may pay as little as €13 per month.
Household gas prices in the EU were highest in the Netherlands (€0.2481 per KWh) and lowest in Hungary (€0.0337 per KWh) in the first half of 2023.
European countries “tend to tax petroleum fuels at the highest level globally,” according to the U.S. Department of Energy (DOE). The federal fuel tax in the U.S. is 18.3 cents per gallon and the total for state gasoline taxes averages about 31 cents, according to the U.S. Energy Information Administration (EIA).
Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe.
But in Germany, an obsession with privacy, mistrust of big-tech and fintech in general, and worries about political and financial crises depleting bank balances overnight—an experience rooted in history as well as a cultural desire for control—all contribute to the country's love for cash.
Germany risks “deindustrialization” as high energy costs and government inaction on other chronic problems threaten to send new factories and high-paying jobs elsewhere, said Christian Kullmann, CEO of major German chemical company Evonik Industries AG.
The price cap was set at €40/MWh from June to December 2022, with an increase of €5 per month following the initial six months. The goal of this measure was to lower production costs and ultimately decrease wholesale electricity prices, providing a benefit to consumers.
EUROPE HIT PARTICULARLY HARD BY GAS PRICES
Another reason for higher gasoline or petrol prices in Europe is because the continue generally uses brent crude (BZ=F) as a feedstock, which trades at a premium compared to the U.S.'s benchmark of West Texas Intermediate (CL=F).
Is there a gas shortage in Europe?
Europe: Well-positioned to get through next winter without major gas shortages. Following Russia's invasion of Ukraine in early 2022 and resulting international sanctions, natural gas imports from Russia to Europe declined drastically to well below their historical averages (Figure 1).
The energy price cap is the maximum amount energy suppliers can charge you for each unit of energy if you're on a standard variable tariff. Between 1 January to 31 March 2024 the energy price cap is set at £1,928 a year for a typical household who use gas and electricity and pay by Direct Debit.
Electricity price components
The ensuing trade conflict between Russia and other European nations led to a shortage of fossil fuels in the EU, causing prices for electricity to shoot up - especially in Germany, where gas plants still account for a substantial part of electricity generation.
The surge in energy prices since Russia's invasion of Ukraine has reduced the energy-intensive sector's production in Germany, although the non-energy intensive sector's production has held up thanks in part to firms' efforts to improve energy efficiency.
Average monthly price for premium gasoline in Germany 2020-2023. The price development for premium gasoline in Germany has continued to rise in recent months. As of October 2023, premium gasoline in Germany cost around 187 euro cents per liter. Figures refer to the monthly average.