for light bills “good news is coming” while for the gas it is not yet time for reductions. It is the prediction of David Tabarelli, president of Nomisma Energia, according to which "the estimated variation on the basis of wholesale electricity prices, which have fallen on the pressure of gas prices, is of the order of 25%, about 16 eurocents less per kWh than should bring tariffs back towards 50 cents per kWh”. Less positive news instead for the price of gas according to which "a 20% increase in December bills to 1,48 euros per cubic meter" is expected.
Arera will release electricity tariffs by December. For gas, however, we will have to wait until the end of January.
The price of gas continues to fall
Meanwhile the price of natural gas on the Amsterdam TTF market it continues to fall. January futures contracts come in at just over €82 per megawatt-hour, a far cry from August's record high of €350. Values clearly down compared to a few weeks ago, thanks both to the drop in consumption (mainly due to a fairly mild winter for now) and to the political agreement on the European price cap. But what will happen when temperatures drop?
There are other factors that could keep gas prices low (at least for now): Nord Stream under maintenance, unblocking of Yamal-Europe and new discoveries in the Black Sea and in the eastern Mediterranean.
Investigations still ongoing for the damaged pipeline, but there is talk of $500 million to repair the pipe and restore gas flow. For this reason, Russian consultants are evaluating how long damaged pipes can withstand exposure to salt water. Then there is Russia's willingness to increase exports to Europe: with the arrival of cold weather, the Kremlin's plan is to reopen the Yamal pipeline (among the most important Russian hubs towards Europe) to collect more from gas supplies and offset the drop in economic revenues in recent months. Finally, there's the new one gas discovery in the Black Sea, as announced by the Ankara government, would amount to 1 trillion dollars.
