32% increase in electricity prices in Italia after US-Israel attack on Iran

The flare-up in hydrocarbon prices, including gas, due to the crisis in the Middle East is also affecting electricity prices, which are also rising. In the week from Monday 2 to Sunday 8 March, in fact, i.e. two days after the operation conducted by the US and Israel against Iran, the GME (Gestore dei Mercati Energetici) recorded an average price of electricity (PUN Index GME) of €141.28 per MWh, a strong increase (32.4%) compared to the €106.67 recorded in the previous week, while the volumes of electricity traded directly on the GME exchange amounted to 4.7 million MWh, with liquidity at 85.1%. This was stated in a note issued by the GME. Average prices were between 139.38 euros per MWh in Sardinia and 145.04 euros per MWh in Sicily.

A confirmation of the current trend comes from the value of the Igi index (Italian Gas Index), which for 10 March is equal to 56.05 euro/MWh, an increase compared to 9 March at 51.03 euro/MWh. The index, calculated daily by the Gme, provides a tool for the interpretation and evaluation of the dynamics observed in the gas markets in Italia and is proposed as a reference by operators, for hedging operations and/or supply contracts.

The question of the impact of hydrocarbon prices on electricity prices was emphasised in the last few hours by the President of the European Commission Ursula Von der Leyen. "The electricity prices in Europe are structurally too high," she emphasised. "This is extremely important, because affordable electricity is not only essential for the cost of living of our citizens, but is also crucial for the competitiveness of industries. In his speech at the World Nuclear Energy Summit in Paris, Von der Leyen stressed that the European Union is "completely" dependent on "expensive and volatile" fossil imports and "the current crisis in the Middle East is a stark reminder of the vulnerabilities this entails".