Monthly wholesale electricity prices in Italy 2019-2023
The average wholesale electricity price in Italy amounted to 111.97 euros per megawatt-hour in August 2023, a year-over-year decline of approximately 80 percent. In the past years, electricity prices in Italy soared, the result of a number of factors affecting much of Europe, including increased heating demand due to cold winters, a rise in natural gas and coal prices, a drop in wind power generation due to low wind speeds, a shortage of gas supply following Russia's invasion of Ukraine, and extreme heat during the 2022 summer months. Since 2023, power prices have started to decrease.
