Electricity tariffs in Italy: PUN, time bands and your bill

Does running the dishwasher at midday cost less than running it in the evening? In Italy, the answer starts with your electricity contract, not the lowest bar on the wholesale chart. A monthly indexed offer, a time-band offer and a contract priced for each delivery interval can reward very different habits.

PUN Index GME is not your zonal price

Since 1 January 2025, purchases on Italy’s day-ahead market have been valued at zonal prices. GME calculates PUN Index GME as a national reference weighted by purchases in the geographical zones. It is not the price of one zone. GME: national reference index.

Our six Italian zone charts show the wholesale prices for the areas we cover. They are not a PUN Index GME series, and averaging those six charts does not reproduce that index. If your contract references PUN, use the index and averaging method specified by the supplier—not the North, South or Sicily price simply because you live there.

A fixed price normally fixes the agreed energy component, not every line of the bill. An indexed price follows an agreed reference; the crucial question is how often the price billed to you changes. Read the Box dell’offerta on your bill for the formula, time-band structure and economic-condition expiry. ARERA: supply conditions.

Monthly prices and time bands: when moving consumption helps

With a monthly single-rate offer, the same energy rate applies throughout that month. Moving consumption between two hours of the same month does not change that component. With a monthly time-band offer, crossing into a cheaper band can help; moving within the same band does not exploit every dip on our chart. Only an applicable interval-based retail formula can pass those interval differences through to your bill.

The standard Italian bands, in local time, are:

• F1: weekdays 08:00–19:00, excluding national holidays.
• F2: weekdays 07:00–08:00 and 19:00–23:00; Saturdays 07:00–23:00, excluding national holidays.
• F3: the remaining night hours, plus all Sundays and national holidays.

F23 combines F2 and F3. “Monoraria” means one rate across the day; “bioraria” commonly separates F1 and F23; “trioraria” distinguishes all three. These are billing bands, not a promise that nights always have the lowest wholesale price. ARERA: time bands.

Having a smart meter does not automatically make an offer quarter-hourly. Ask the supplier which readings it uses, how it groups them and how missing readings are settled. Check your available consumption history through the official Portale Consumi; the detail available depends on the underlying data. ARERA: Portale Consumi.

Supplier examples: read beyond the product name

Checked on 13 September 2026. These household examples illustrate different conditions, not a ranking or a complete supplier list. Obtain the current economic conditions for your supply point before signing. Promotional prices and bonuses are deliberately not reproduced here.

A small per-kWh spread can be outweighed by an annual fee in a low-consumption home. Compare the full year on the same tax basis, including the period after any introductory benefit ends. Do not choose an offer solely because its headline index looks familiar.

Worked example: bands, losses and supplier fees

Suppose a household uses 100 kWh in F1 at a monthly index of €0.12/kWh and 150 kWh in F23 at €0.08/kWh. The index component is €12.00 + €12.00 = €24.00. Its consumption-weighted average is €0.096/kWh, not the simple average of €0.10/kWh.

This fictional monthly example applies a multiplier of 1.10 to the index only, a €0.02/kWh markup and an €8.00 monthly supplier fee. The multiplier is an assumed contract input, not a statement of the loss factor for every Italian supply. All amounts exclude VAT and other bill components; this is not a supplier quotation.

The illustrated subtotal is 15.76 ct/kWh before VAT, not your final price. A real contract may include further energy charges as well as network costs, system charges and taxes. Check whether each published component already includes losses; do not multiply a loss-inclusive markup again.

To reproduce the example in our calculator, enter consumption 250, market price 0.096, multiplier 1.10, markup 0.02, monthly fee 8 and zero shared costs or shifted consumption. Enter the contract’s applicable index manually. Our calculator does not fetch PUN, apply Italian billing bands, cap an index or calculate supplier thresholds automatically. A zonal market selection is not a substitute for PUN. Add relevant costs separately when comparing broader totals.

What sits outside “PUN plus spread”?

ARERA’s Scontrino dell’energia separates consumption-related amounts from fixed charges, including charges for contracted power. Network and system charges are distinct from the supplier’s energy offer; excise and VAT are also shown. A fixed charge can remain payable with no consumption. ARERA: reading the bill.

Do not confuse kW of contracted power with kWh consumed. When comparing offers, keep the supply-point details consistent: resident/non-resident household category, contracted power and consumption. Copy the applicable charges from your bill or a current personalized quotation rather than assuming that another household’s all-in rate applies to you.

Ask which energy items the spread covers: losses, dispatching and commercial charges may be presented separately. An index cap or a fixed energy price is not automatically a cap on taxes, network charges or the total amount payable. Keep VAT-inclusive and VAT-exclusive figures separate throughout the calculation.

Negative prices and realistic savings

In the fictional two-band example, moving 40 kWh from F1 to F23 reduces the index component including the assumed loss adjustment by €1.76 before VAT: 40 × (€0.12 − €0.08) × 1.10. The same markup and fixed fee still apply. Moving those 40 kWh between two hours within F1 changes that component by €0.00, even if the wholesale chart is very different at those hours. Actual savings depend on the contractual rates for the relevant month.

A negative index is not necessarily free electricity. If an applicable index were −€0.01/kWh, the example’s multiplier and markup would give −€0.01 × 1.10 + €0.02 = €0.009/kWh, still positive before other costs. A negative interval on a zonal chart is not proof that a monthly national index is negative.

For genuine interval billing, compare the full marginal import cost for each interval. For monthly band billing, use the relevant band rates. Use timers only where convenient and safe; necessary heating, medical equipment and food safety take priority. Our historical analysis describes past wholesale patterns, not guaranteed bill savings.

Before switching: a short household checklist

Start with the official, free Portale Offerte to compare the available offers for your circumstances. It is operated by Acquirente Unico under ARERA’s framework; our examples are not a replacement for its personalized comparison. ARERA: Portale Offerte.

• Have your latest bill, POD supply-point identifier and annual consumption ready, including the band split where available.
• Write down the exact index, averaging period, losses, markup, fixed fee and any additional energy charges.
• Check meter requirements, missing-data rules and whether your consumption is billed by band or by delivery interval.
• Compare your present routine first, then a realistic shifting scenario. Include high-price months in your budget.
• Check eligibility, payment terms, renewal conditions and any early-exit costs before changing your existing service.
• After switching, compare the first bill with the agreed formula and actual readings.

Use the zone links below to explore the six Italian areas currently available on kWhPrice. Plan using Europe/Rome local time, including clock changes. Use the contract’s retail formula—not a wholesale label—to decide when running an appliance will actually cost less.