Italy’s Q3 ’08 energy tariffs rise as government proposes “Robin Hood” tax
Italian end-user gas and power tariffs are due to rise even further in Q3 ’08 on the back of soaring global oil prices which broke $140/bl this month, Italy’s energy regulator AEEG has announced.
Power tariffs are set to rise 4.3% compared with the previous quarter, while gas tariffs will jump by 4.7%. Since the beginning of the year, gas and power tariffs have increased by 7% and 8% respectively. The head of AEEG, Alessandro Ortis, blamed the “tsunami-oil” effect and Italy’s high energy dependence on hydrocarbons as the underlying bullish factors for both gas and power price hikes. In the first six months of 2008, crude oil climbed 42% in euros (51% in dollars), he said.
In Q4 ’08, five million disadvantaged families will receive up to EUR 120 per year as a rebate on their energy bills, which will be calculated on a retrospective basis for the whole year. The government is also pushing for a “Robin Hood” tax, which would alleviate some of Italy’s poorest families’ financial woes. The money would come from increased company taxation (Ires) with large energy companies, including power suppliers, forced to pay.
Italy depends on imports to meet 85% of its energy needs. This has prompted the newly-elected government to lend strong support to the reintroduction of nuclear energy. Over 60% of electricity is generated via gas-fired plants in Italy. Regulator AEEG said that without market liberalisation and lower transport tariffs end-user bills would be even higher.
In Q3 ’08, electricity tariffs will rise to eurocents 17.93/kWh and gas tariffs to eurocents 75.70/cubic metre. DL
Other Related Stories
