The Italian economy, and, more broadly, the European economy, are carrying a deep energy price crisis, which has put a strain on company and household budgets. The year 2023 began with encouraging signs, thanks to a partial drop in the price of oil and a more significant drop in the prices of gas and electricity. These signals, however, are far from obsolete or in the process of being overcome. The gas market has seen the most significant reductions in energy prices. The wholesale price fell below 50 €/MWh at the end of March 2023, a significant decrease considering that it was around 130 €/MWh on average in 2022. However, in the five years preceding this energy crisis, the price of gas in Europe had never exceeded 30 €/MWh, and it is still at extremely high levels today. Electricity prices have also reached extraordinary highs in the last two years (up to 700 €/MWh), before falling and approaching 100 €/MWh in the final days of March 2023. Despite this, prices are more than double what they were before the crisis. According to the Confcommercio Energy Observatory, the price of electricity and gas for typical tertiary market users in March 2023 is "timid" when compared to February 2023. However, the amounts in the bill remain high in comparison to prior to the recent energy crisis (up to +36% for electricity supplies and +116% for gas).
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