The price of electricity in Italy returns to the levels of the 2022 energy crisis. On Tuesday 3 November 2026 the Pun, the single national price, stands at 273.65 euros per megawatt hour. The data, published by the Energy Markets Manager, marks a slight decline compared to the 282.30 euros of Monday 2 November, but confirms particularly high prices for the Italian electricity market. The index is then reflected in the energy component of electricity bills.
To find similar daily prices you have to go back to December 2022, when Europe was facing the consequences of the energy crisis linked to the Russian invasion of Ukraine.
Electricity price at 273 euros: last time was December 2022
To find daily electricity prices comparable to those recorded at the beginning of November, you have to go back to December 2022. They were the hardest months of the great European energy crisis, with record prices of natural gas which had also dragged the price of electricity upwards.
The average Pun in December 2022 reached 294.91 euros per megawatt hour, while the absolute monthly record had been reached a few months earlier, in August 2022, with 543.15 euros per megawatt hour. Since then the electricity market had experienced a progressive reduction in prices.
During 2026, however, prices began to grow rapidly again. In September the average monthly Pun reached 207.54 euros per megawatt hour, rising to around 230.82 euros in October. The daily price expected for Tuesday 3 November, equal to 273.65 euros, exceeds the October average by 18.6%, while that of 2 November was even higher.
Why the price of electricity is increasing: the weight of gas
Electricity prices are closely linked to the natural gas market. In Italy, in fact, a significant share of electricity is produced in gas-fired thermoelectric power plants. In the functioning of the electricity market, when these plants are necessary to meet demand, production costs can help determine the price paid for energy generated from other sources as well.
The Regulatory Authority for Energy, Networks and the Environment (Arera) also explained that the “instability of the international geopolitical framework” would continue to weigh on the tariffs for the last three months of 2026, with effects on energy raw materials and in particular on natural gas.
By how much does the energy bill increase to 273 euros
To understand how much impact such a high energy price can have, it is possible to carry out a simulation on domestic consumption. If we consider the “typical family” as a reference, as is done in the official Arera documents, which consumes 2,700 kilowatt hours per year, the difference between the average price in October, equal to 230.82 euros per megawatt hour, and the daily price of 3 November, equal to 273.65 euros, is 42.83 euros per megawatt hour, or 4.283 cents per kilowatt hour.
If the average price for the entire month of November were to stabilize at 273.65 euros per megawatt hour, the energy component alone would cost approximately 9.64 euros more per month, compared to a scenario with the average Pun of October. The risk for consumers will depend above all on the duration of the new phase of high prices: an increase limited to a few days will in fact have a limited impact on the monthly average. If, however, prices continue to remain close to 270-280 euros per megawatt hour, the effect on supplies at indexed prices will be more significant.
Electricity bills, who will pay the most with the Pun at its highest
The wholesale energy price does not coincide with the price paid by consumers. The 273.65 euros per megawatt hour represent the reference value of the electricity market. For this reason, the consequences of price increases depend above all on the supply contract.
Those who have a variable price tariff indexed to the Pun are directly exposed to market fluctuations. In these contracts the price of the energy component is generally determined using the average index of the billing period, to which any fees foreseen by the offer are added.
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Those who have signed a fixed price offer, however, maintain the price of the energy component envisaged by the contract for the agreed duration. The increase in the Pun does not lead to an automatic increase in this item. Even customers of the Gradual Protection Service are exposed to market trends, because the economic conditions provide for a variable component calculated on the actual values of the Pun.
To check your contract and compare the offers available on the market you can use the Arera Offer Portal, the free public service that allows you to compare electricity tariffs based on your consumption.