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In arrivo una nuova stangata sulle bollette di luce e gas. A lanciare l’allarme è stato proprio il ministro della Transizione Ecologica, Roberto Cingolani.
A new sting on electricity and gas bills is coming. The Minister for Ecological Transition, Roberto Cingolani, raised the alarm.
But why are we seeing these price rises?
First of all, the energy market is experiencing an upward trend in gas and electricity prices that has reached record levels since last July. Among the causes are rising commodity prices due to the global economic recovery and reduced gas supplies, particularly from Russia. But among the reasons for this surge is also the rise in the price of CO2 emission permits, known as Ets (Emission Trading System).
CO2 emission permits
The “emissions” system established by the EU is essentially based on one principle: large companies throughout Europe, in Italy there are 1,200, must pay to pollute. In recent months there has been an increase in the cost of CO2 emission permits. But the mechanism is such that speculation can take place.
This is the ‘cap-and-trade’ method of emissions trading. That is, it is a system of pollution permits for European companies, which buy, receive and trade these emission allowances.
If a company pollutes more than expected, it is forced to buy more permits, thus adding a new cost, while those who manage to reduce emissions can sell them instead. As the EU’s increasingly restrictive policies have increased the demand for permits, prices of allowances are booming. After reaching an all-time high of around €66 per tonne of CO2, prices have fallen slightly to €60 per tonne of CO2, a cost that companies have to recoup and which ends up in their energy bills and therefore in consumer tariffs.
The chart shows the evolution of the price of electricity for the typical domestic consumer in greater protection in Italy.
Analyzing only the component “energy costs” after the minimum recorded in the second quarter of 2020 at 5.71 c€/kWh, the price has risen to 22.18 c€/kWh (Q4 2021), an increase of +288.44%.
Breaking down the factors, the expense for transport and meter management (includes amounts billed for the various activities that allow sellers to deliver electricity to end customers) remained unchanged (4.01 c€/kWh), the expense for system charges (Asos and Arim) seem to zero while taxes (excise duty and VAT) rose to 3.51 c€/kWh (+54%).
The derivative “Italy Baseload Monthly Future” with maturity in November has risen from August 2021 (111.23 €/kWh) to the maximum of 5 October at 283 €/kWh (+154.42%).
