Good news for Italians. The gas bill of the standard family under protection showed significant stability in May and was -0.2% compared to April. Arera explained that the -13.2% decrease in natural gas expenditures was offset by a 13% increase in the general fees for the portion due to Ug2, the discount component envisaged by the Decree Laws (Executive Decree 34/). 2023), was used last year to offset higher gas price hikes, to the benefit of consumers.
For May, when a lower average wholesale price was recorded than in April, the price of gas raw material alone (CMEMm) for customers with contracts under protected terms is equivalent to 34.06 Euro/MWh. The overall update for a typical user for consumption in May compared to the previous month is therefore determined by a -13.2% decrease in natural gas expenditure offset by an increase in overall fees for the portion associated with the UG2. , +13%. Arera also reminds that “for the second quarter of 2023, ‘law’ no. 34 dated 2023 confirms that VAT for gas has been reduced to 5% and the remaining general system charges have been reset. The negative rates of the Ug2 tariff component applied to consumption tranches up to 5,000 cubic meters per year. With this update, gas prices were gradually reduced and reset to zero.
The tariff based on the shipping and measurement cost has not changed. This leads to a final -0.2% for a typical family. In terms of final effects, typical household gas expenditure in the rolling year (June 2022-May 2023) is approximately €1,514 excluding taxes and is -6.7% compared to the equivalent 12 months of the previous year, ie the period June 2021 to May 2022.
Increase in the purchasing power of Italians
Although lower than expected, the drop in natural gas bills is an important sign for businesses and households that have had to deal with uncontrolled energy costs for too long. This is Coldiretti’s view, which highlights how the reduction in the cost of energy expenditure will increase the purchasing power of families and citizens.
According to Coldiretti’s analysis based on Enea data, the cost of energy actually reflects throughout the supply chain and concerns both agricultural activities and food conversion and distribution. Agriculture and food production in Italy accounts for more than 11% of total industrial energy consumption for approximately 13.3 million tonnes of oil equivalent (Mtoe) per year.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
