October 4, 2022

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Energy, Italy separates the price of electricity from the price of gas

Italy started the first chapter between the price of electricity and the price of gas. The Minister for Environmental Transformation, Roberto Cingolani, announced that he has signed the “energy release” decree that allows the direct sale and withdrawal of electricity produced from renewable sources from the GSE to interruptable companies such as energy-intensive companies. “I have signed the Ministerial Decree on Energy Release allocating 18 TWh, mediated by GSE, to the industrial class of the provinces at a controlled price of 210 euros per MWh, at a time when the cost of electricity is more than 450. It is less than half. : This will be awarded by GSE auctions We hope that it will reduce the energy bill for energy users. We are studying something like this on gas and we will see later,” Cingolani announced, referring to the project to increase extraction capacities for operators in Italy in exchange for managed sales prices for companies. Then the minister predicted the process of aligning with the measures related to the so-called “decoupling” that Adopted by the European Commission.

He said: “The Commission has set a €180 per megawatt-hour ceiling for renewable energy generation – he said – so we are close enough. We would be very willing to adapt to a lower price. We have also done what we can by assessing the cost to society. 210 euros is not a low price, but we must also take into account the fact that investments cannot be prevented “in this sector.

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Motivated by journalists, Singolani returned to talk about negotiations at the European level in order to adopt a maximum gas price, and expressed his optimism about the possibility that we will meet by the end of the month towards a common solution along the lines of what is proposed. from Italy.

“Last week we had a meeting of energy ministers where we still had to discuss the approach to take in setting the price ceiling. He explained that there is still no address. After a heated discussion, the majority of member states recognized that the price cap is the only European way to put a stop to the volatility of the FTF. The commission was given the mandate to put together a proposal by the end of the month: this did not exist prior to the meeting. In recent days, we and 4 other member states have been summoned with technicians to discuss the final package for the price cap in the commission. An extraordinary council of energy ministers convened on September 30 to end the issue. Then there was talk of a cap on Russian gas only and it was found that it would be anomalous to have a cap on one type of molecule and another similar, being produced elsewhere, no. The trend now is to talk about a generalized cap on methane coming from gas pipelines, not from LNG. On the 30th of September, we must necessarily converge on this thing. We can have excellent chances of implementing the proposal.” Cingolani also reassured the level of gas stocks reached in Italy and the fact that any rationing plan is more than adequate compared to what the European Union may demand.

Regarding the quantities of gas, I repeat that the government’s work has made us safe – he said -. Today we have stock at 86.7%, target was 90% at the end of October. We’re early: Today (yesterday, editor’s note) I signed a letter ordering Sanam to go a little further, if we can get to 92/93% we’ll have more flexibility in moments of maximum winter absorption, hopefully there not be.”