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Domestic gas prices in Italy increased by almost 65% in 2022

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MILAN (RockedBuzz via Reuters) – The price paid by the average Italian household for gas supplies rose 64.8% in 2022 compared to a year earlier.

ARERA, which sets regulated gas prices for Italian consumers, also said December’s price was up 23.3% from the previous month, reflecting high prices in early December before a decline later in the year. month.

An average household would have spent about 1,866 euros ($1,968.63) on gas last year, he estimated.

Marco Vignola, rapporteur on energy issues for the National Union of Consumers, said the prices “were unsustainable for too many Italians” and urged the government to do more to help.

For next year, the Italian budget has allocated over 21 billion euros to help businesses and households pay their electricity and gas bills, mainly through subsidies to energy-intensive businesses and low-income households.

ARERA began setting regulated gas prices on a monthly rather than a quarterly basis at the end of last year due to market uncertainty related to gas supplies in the wake of the war in Ukraine.

European Union countries agreed in December to cap gas prices to try to limit further increases on the market, which hit record highs in Europe after Russia’s invasion of Ukraine led to supplies being cut off.

($1 = 0.9479 euros)

(Report by Francesca Landini and Keith Weir; editing by Barbara Lewis)