Il utility sector defends himself against the allegations of'Antitrust, which targeted the seven main energy and gas supply companies on the free market for unlawfully modifying the conditions of supply, which would have caused an unjustified increase of the bill prices to users. The Authority had already intervened at the end of October against 4 companies: Iren, Dolomiti, E.On and Iberdrola. Now, the companies concerned are Enel, Eni, Ivy, A2a, Edison, That ed Engie – around 80% of the market – who reply instead that they have complied with the contracts.
In particular, the proposals of change in the supply price of electricity and natural gas and the subsequent proposals for the renewal of the contractual conditions, in contrast with art. 3 of the August Decree-Law, the so-called Aiuti bis, which did not allow for this modification until 30 April 2023.
Within seven days, the companies will be able to defend themselves and the Antitrust will be able to confirm or not the precautionary measures.
Enel replies to the Antitrust: "No abuse"
With reference to the preliminary investigation announced by the Authority, Enel he specifies "that he has not changed the economic conditions of his customers during the period of validity of the contracts, in accordance with the provisions of article 3".
“The Authority requests that the article in question also be applied to contract renewals, thus proposing – underlines the energy giant – awrong analog interpretation of an exceptional provision, in contrast with national standards and European regulations. Enel has so far faced the serious crisis caused by the increase in gas costs by keeping the prices unchanged for its customers throughout the validity of the contracts. To do this, the company has maintained the sale price of therenewable energy on the historical values before the crisis and has borne the losses caused by the increase in the price of gas which has penalized the electricity generating companies”.
The provision issued, continues the note, "by preventing the implementation of the cost variations that occurred after the expiry of the contract, damages customers for whom the electricity operators will not have energy available at pre-crisis prices which risk, therefore - given the impossibility to renew the contract - to transit on the protected or safeguarded market which today charges higher prices than those applied when renewing expiring offers". For this reason, the company announces that it will "immediately challenge the Authority's provision, trusting that the evaluation of a third-party judge can restore the minimum legal conditions necessary for the survival of a market already afflicted by so much turbulence".
Hera also defends itself against the Antitrust provision
Also Ivy defends its work after the initiation of a proceeding by the Authority. The Bologna-based multiutility, reads a note, "believes that it has always operated in compliance with current regulations and in full compliance with the contractual commitments with its customers, proposing renewals of the economic conditions only if they expire".
Not only. The energy company highlights the "many actions to support customers, starting with payment facilitations, and the best possible contractual conditions". For this reason, Hera "believes it can demonstrate the correctness of its actions, reserving the right to defend its reasons in the competent offices".
A2a, Patuano responds to the Antitrust provision: "Convinced that we have respected the contracts"
Also A2a responds to Antitrust provision. "We have always respected contracts with our customers even, if I may add, when it was not convenient for us”. They are the words of Marco Patuano, president of A2a. “What we did was apply the contracts in their forecasts. Now we will see what is raised about the Antitrust because it is clear that there is a different interpretation of the regulatory provision. A little bit of bitterness remains because every time we have had to respect the contracts we have done so up to the last day and we are convinced that we have operated in absolute good faith", added the president Patuan on the sidelines of the presentation of a relationship with Ambrosetti.
Edison Energia: "Never made unilateral changes to contracts"
In relation to the preliminary investigation procedure, Edison Energy declares itself "at the complete disposal of the Authority to provide all the elements necessary for carrying out a complete and in-depth examination of the company's work, which has always been compliant with current regulations".
The company, according to a note, believes that the normative interpretation of article 3 of the Aid bis decree given by the Authority is completely illegitimate, reserving the right to defend its reasons in the competent offices.
Edison Energy underlines “that he has not never made unilateral changes during the validity of the contracts, limiting itself, in compliance with the contractual commitments, to the renewal of the economic conditions at the natural contractual expiry". The energy company also declared that, in this period of strong fluctuations in energy costs, "all the actions taken by the company had as their primary objective the protection of its customers through facilitation of payments, the offer of the best possible conditions as well as support for optimizing consumption”.
Utility stocks still weak in Piazza Affari
Meanwhile i utility stocks continue to be very volatile, in a morning of general weakness for Business Square (-0,36%). A2a drops by 0,65%, Ivy of 0,90%, Eni 0,25%. Enel, on the other hand, rose by 0,23%, also thanks to the agreement with Volkswagen on the equal joint venture to accelerate the diffusion of electric mobility in Italy. Acea is also traveling in positive territory (+0,075%). As for the roof ai gas prices in the EU, another hot topic for utilities, yet another black smoke. The member states are unable to find an agreement and the European Council has postponed the agreement until Monday 19 December.
Future and Utilitarian Electricity: "No to blocking the price update on the bill"
They also intervene on the subject Future electricity (association of the Italian electricity world born from the merger between Assoelettrica and assoRinnovabili) e utilitalia (federation that brings together the special companies operating in the public services of water, environment, energy and gas). The two associations asked the Government and the Parliament to intervene clarifying, as required by art. 3 of the DL Aiuti-bis, the possibility of "updating the economic conditions of the energy supply contracts upon expiry of the same if the contractual notice terms are respected and without prejudice to the user's right of withdrawal". The two associations underline that the prices of electricity and gas have increased by 6-7 times in 2022 compared to the average of recent years and that this could have "negative repercussions for employment and related industries in the national supply chain".
Operators would be forced until April 2023 to sell energy at a much lower price than the one at which they buy it, having to continue to sell it at prices defined 12 or 24 months in advance, prices that were only possible in the presence of hedges that have now expired. "Consequently, there is a risk of very high losses of the sales companies estimated at 4-5 billion euros". This is the reason why "many medium-small sales operators would risk bankruptcy, with consequent damage for the State, the system and consumers".
THEintervention is urgent and necessary “in the face of the incorrect interpretation of the art. 3 by the Competition and Market Authority”, reiterate the two associations. But it is nonetheless a independent collegiate body which carries out its activity and makes decisions in full autonomy with respect to the executive power. In any case, you can always appeal to the Tar against the decisions of the Antitrust.
