Italy Power Prices Surge to Highest Since Winter 2022 on Heat

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessItaly Power Prices Surge to Highest Since Winter 2022 on HeatItaly’s wholesale power prices climbed to the highest since winter 2022 as hot, dry weather forces it to rely more heavily on costly natural gas.Author of the article:Eamon Akil Farhat and Alberto Brambilla You can save this article by registering for free here. Or sign-in if you have an account.bdt5g]68aifxp2krq4tr66u)_media_dl_1.png Gestore dei Mercati Energetici(Bloomberg) — Italy’s wholesale power prices climbed to the highest since winter 2022 as hot, dry weather forces it to rely more heavily on costly natural gas.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountHigh temperatures are boosting air conditioning needs just as hydropower reservoirs are depleting rapidly. That’s bolstered Italy’s gas use in electricity generation at a time when supplies have been tightened by the war in the Middle East.Italy’s day-ahead power price for delivery on Wednesday rose to €208 per megawatt-hour, the highest level since December 2022, according to Italian Power Exchange data. Peak power demand is due to rise Wednesday versus the previous day, reaching 47.6 gigawatts at around 5 p.m. local time, according to forecasts from the Ggestore dei Mercati Energetici.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againWhile European power prices have retreated sharply from the highs seen during the energy crisis following Russia’s invasion of Ukraine, this summer’s extreme heat and disruptions to LNG flows have driven prices steadily higher.Demand for electricity in Italy rose to the highest level for July since 2019 as temperatures climbed. At the same time, Italy’s northern river basins and lakes continue to face water stress after a period of limited rainfall and high temperatures, putting hydropower under pressure.Italy Hydro Slump May Lift Demand for Thermal Plants: BNEF ChartItaly already relies more on gas for power generation than other major European countries. In July, gas generation met 38% of Italy’s power needs, according to ENTSO-E data, up from a year earlier and only slightly below a high set in 2022.Italy has also leaned heavily on neighboring markets, with net power imports averaging 7.8 gigawatts in the week through Aug. 3. France is a key source of electricity, but hot weather there has reduced the availability of some nuclear reactors, limiting how much power it can export.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.