By Liam Moloney
The Italian energy regulator Thursday said it will reduce
natural gas and electricity prices that are used by the majority of
households and small businesses from next week as the country
benefits from the opening up of the sector to competition.
In a statement, the regulator said Monday it will reduce--for
the first time in three years--gas prices by 4.2%, which
corresponds to an average saving of about 55 euros ($70.4) per
bill. Electricity prices will be reduced by 1.0%, which means an
average saving of EUR5.
Last year, the technocrat government of Prime Minister Mario
Monti approved rules to promote liberalization of the gas market,
including forcing energy company Eni SpA (E) to let go of its
controlling stake in gas transmission grid Snam SpA (SRG.MI).
"Today's drop in energy bills is the first concrete effect of
this comprehensive reform, allowing consumers to benefit [from the
changes]," said energy regulator Guido Bortoni in the
statement.
The regulator expects 2013 domestic gas bills for those that
have opted to have gas prices set by the regulator to fall by at
least 7.0% by the end of the year.
Write to Liam Moloney at liam.moloney@dowjones.com
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