The statistics speak for themselves: two days before the end of the month, we have consumed 1.3 billion cubic meters less of gas which, at the current price of about 1.1 € per cubic meter, is equivalent to 1.4 billion euros. less on our energy bill with foreign countries, which unfortunately remains monstrous, over 100 billion euros in 2022, compared to 45 in 2021. Consumption drops for the October, which allows families to postpone the ignition heating, a gift from heaven, while the 30% drop in industry consumption, on the other hand, is the result of the advance of the recession. In the thermoelectric sector, where the contraction reaches 20%, the greater use of coal counts in, unfortunately, the few remaining power plants of this type. Here too bad news is helping the decline in electricity consumption by industries, again due to less activity. The bad news ends here, because there is also a thread of hope, indeed, a certainty, for the bills of families that will arrive at the beginning of November for gas consumption in October. In addition to being low for the few volumes consumed, the price per cubic meter will not be very far from the rate valid until the end of September of € 1.32 and which, had the old system changed last July last, would have marked a jump of 300% to over € 3 per cubic meter. A total change of perspective, determined by the collapse in the price of gas on the international market, which went from peaks of 350 euros per megawatt hour, about 3.5 € per cubic meter, at the end of August, to 110 on last Friday, equal to 1.1 € per cubic meter these days. It is precisely the mild climate and the recession that have brought prices down, minus the alchemy of Brussels. The instability of the gas market started a year ago and went crazy after the war on February 24, with the panic of late August leading to absurd prices. As it did not take much to make the rise rise, now the fall should not be surprising. Gas also dragged electricity prices, as usual, from peaks of € 700 per megawatt hour at the end of August to € 135 last Friday, while for the weekend, when demand is low, they returned to € 100. Great news, because it means that household electricity bills from next January 1, 2023, will not only stop increasing, but will even decrease, by at least 20%. The same goes for businesses, whose bills are monthly, which will see drops in both gas and electricity in November. There is even hope for a cooling of inflation. The crisis is far from over, but we learn two things from recent movements: the first is that the chaos is not only on the upside, the second that counts on acting on the fundamentals, and we need to do it quickly. to the rhythm of the stock exchanges.
