Cingolani: “The electricity bill towards an increase of 40% per cent in October”

Cingolani: “The electricity bill towards an increase of 40% per cent in October”
Cingolani: “The electricity bill towards an increase of 40% per cent in October”

Roma. “Last quarter the electricity bill it increased by 20%, next quarter it will increase by 40%”. The news was somehow expected, now the confirmation arrives. It is the Minister of Energy Transition, Roberto Cingolani who takes the responsibility of alerting consumers, as well as the business world.

“All this happens – said the minister attending a conference of the CGIL in Genoa – because the price of gas internationally it increases. But it also happens because the price of the CO2 produced “.

In other words, the unprecedented increase in the bill that will arrive starting from next October with the quarterly revision of tariffs has a number of reasons, both financial that geopolitical. The first is linked to the rise in commodities: the economic recovery after the lockdown has created a series of bottlenecks, where demand is far greater than supply.

In particular, the demand for gas has exploded especially in Asia, where – starting with China – it is buying up loads of LNG, the liquid natural gas which is transported by sea. This has made prices level up all over the world and has put Europe in crisis, where gas is now permanently used to replace coal for energy production.

This is why the rises in gas prices end up on the bills of businesses and citizens: because in Italy gas covers over 35% of the fuel used in power plants and is widely used in energy-intensive industrial activities, such as steel mills, ceramics, glass, chemicals and cement factories.

The second element that causes the record rise in bills is, however, linked to the so-called permits to pollute, which are paid based on the amount of CO2 emitted. They are certificates that can be exchanged as if they were a financial product, the increasingly restrictive policies of the EU in terms of issuance, have led the market to increase the demand for rights, in anticipation of further increases. And since energy producers are forced to buy them to offset the emissions, they then download the costs into their bills.

It will not be only the electricity bill that will increase starting from October 1st. For all the reasons mentioned, even gas bills (particularly used in Northern Italy to heat offices and homes in the winter) are destined to increase. According to forecasts, the increase – in this case – will be “only” around 30 percent.

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