Several Italian energy suppliers have been ordered to pay fines by the southern European country’s competition authority because the companies increased their prices in violation of government rules.
The company Enel must pay ten million euros, the provider Eni five million euros. Acea Energia, Iberdrola Clienti Italia, Dolomiti Energia and Edison Energie were fined between 5,000 and 560,000 euros, the authority announced on Wednesday.
Unilateral price increases were prohibited
As a result of Russia’s war of aggression against Ukraine, energy prices exploded in Italy, but also elsewhere. The then government under Mario Draghi therefore banned unilateral price increases of current contracts for electricity and gas from August 10, 2022 to the end of June 2023.
The six providers still increased their prices for a total of more than four million households. According to the authorities, they referred to corresponding price change clauses in the contracts.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
