Electricity prices in Italy hovered around €150/MWh, falling significantly from last year's peaks, dragged by declines in natural gas prices and prospects of lower demand. At the same time, the country, highly vulnerable to shocks in the energy market due to its reliance on imports for three-quarters of the power consumption, allocated more than €21 billion of the 2023 budget to help households and businesses struggling with high energy costs. In April, the European Commission has approved a €450 million Italian scheme to support the production of renewable hydrogen with the aim to completely wean itself off Russian gas and turn the country into an energy hub for the bloc. Italy recorded a record-breaking surge in energy prices last year, with electricity costs reaching a peak of €737.43/MWh in August 2022 in the aftermath of Russia's invasion of Ukraine.
Historically, the Italy Electricity Price reached an all time high of 737.43 in August of 2022. This page includes a chart with historical data for Italy Electricity Price. Italy Electricity Price - data, forecasts, historical chart - was last updated on June of 2023.