The Middle East scenario, which includes the unknowns behind the expansion of the conflict between Hamas and Israel, could affect gas prices in Europe, which could lead to a rise in prices in the Italian market. A change to the bills is expected tomorrow, November 3, and Arera (the public institution that determines electricity and gas tariffs in the protected market, which concerns a third of users) will announce the methane tariff for October bills. According to Nomisma Energia, the increase in gas tariffs in the protected market will be +8% in October. This would “raise the average bill for a family in the protected market to 1,433 euros per year, an increase of around 106 euros compared to current prices”. Taking into account electricity expenses, which increased by +18.6% in the last quarter of the year and amounted to an average of 764 euros, the total electricity and gas bill paid by a family will reach 2,197 euros.
Gas prices for Nomisma will fall in December
“The price of gas on the Italian stock exchange PSV increased last month,” explains Davide Tabarelli, president of Nomisma Energia. “The first cold weather, the tension over Gaza, the strikes in Australia, the sabotage of the natural gas pipeline in Finland affected some speculation. But I predict that customs duties will increase next month, at the beginning of December. The reserves are full, the climate is mild, Gaza’ “The war in Turkey does not create a supply problem, demand fell due to the economic crisis, Russia did not close the pipes, wind energy in the North Sea and hydroelectric energy in the North Sea increased production in the Alps,” he said.
Early indicators from the Amsterdam gas market appear to confirm this trend, with a price falling by 2.8% to 46.4 euros per megawatt hour at this time.
The TTF contract, which expires in December, is being strained by weak demand and European consumption remaining below historical averages, compared to ample supply supported by an increase in LNG flows, a recovery in Norwegian production and stocks almost 100% full. “We are much, much better prepared than we were twelve months ago,” he told the German newspaper Süeddeutsche Zeitung Klaus Mueller, Head of the German Federal Network Agency. “If we have a normal winter there shouldn’t be any major problems.” However, he added that it was too early to say that the alarm had passed.
As for the Italian market, the need is expected to increase slightly to 131.5 million cubic meters: 14 million cubic meters will come from the production from the ‘Golar Tundra’ regasifier in the port of Piombino, while the one in Cavarzere will guarantee 27.2 million cubic meters. million cubic meters and Panigaglia’s 2 million. 7.3 million m3 is expected from Gela, 44.3 from Mazara del Vallo (Algeria Transmed), 5.4 from Passo Gries and 30.9 million m3 from Melendugno (Tap from Azerbaijan). Domestic production is only 7.4 million cubic meters.
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.
