Electricity, wholesale price at EUR 118 per MWh slightly up in December

Electricity, December prices (so far) slightly up on those of November. These are certified by the Gme statistics: the Gme Pun Index, which indicates the wholesale price of volumes traded on the electricity exchange, marks an average until 23 December of 118 euros per MWh, against 117 in November. A progression that has continued since August, when the monthly index stopped at 109 euros per MWh. A far cry from the peaks at the beginning of 2025, when in February it had reached an average of 150 euros per MWh per month, but nevertheless a recovery compared to the prices of spring-summer

The Gme, in its last monthly survey, had already recorded the growth in November (+6.04 euros per MWh on October), "in line with the price rises also observed on the other main European electricity exchanges (+2/+17 euros per MWh). In a context characterised by a slight drop in the main gas price references, which have remained at their lowest levels since May 2024, the growth in the Italian price corresponds to an increase in purchases and a drop in renewable sales. On the other hand, the balance with foreign countries is increasing'.

Compared to other European countries, only Spain showed falling prices in November: 59 euros per MWh compared to 76 in October (and 108 in February). The other major countries show upward curves, which are nevertheless lower than those in Italy. Germany goes up to 102 euros per MWh from 84 in October (and 128 in February), France goes up to 59 from 57 in October (and 123 in February), while the Scandinavian region goes up to 60 from 39 in October (and 60 in February).

In the Congiuntura Flash of 22 December, Confindustria recorded: "The slow decline in the price of oil continues (63 dollars per barrel in December), just below the 2019 average; the price of gas also falls (27 euros/MWh), but is still double the pre-2022 values. Therefore, consumer inflation in Italy is moderate (+1.1% in November), but the cost of electricity for businesses remains high: 0.28 euro/KWh, compared to 0.18 in France and 0.17 in Spain'.