Pexapark’s latest report examines Italy’s upcoming transition from the Prezzo Unico Nazionale (PUN) to zonal electricity pricing by 2025. Italy’s energy market, segmented into seven zones, pays producers based on zonal prices, while consumers currently pay the national PUN rate. This difference, called Corrispettivo Capacità di Trasporto (CCT), stems from grid transmission constraints. The shift will expose consumers to zonal prices, with producers offsetting differences temporarily via the PUN Index GME during a one-year transition. By 2026, zonal pricing could become standard or retain the PUN Index. Utilities may prefer PUN-based settlements for risk management, while corporate buyers might lean toward zonal pricing to align generation with consumption. The report notes that PPA agreements tied to PUN face new basis risks, urging stakeholders to develop tailored strategies for evolving market conditions.
Italy transitions to zonal pricing, impacting PPA settlements
PPAs in Italy’s energy market must adapt to new settlement mechanisms by 2026. (Image Credits/Source: Mark Stebnicki/Pexels)
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