the bill for Monegasque households is likely to swell in 2023
In 2022, the impact of the war in Ukraine was minimal on the electricity bill of Monegasque residents and businesses, but things could get more complicated next year.
Questioned by Monaco Info, the director of the SMEG (Monegasque Electricity and Gas Company) Thomas Battaglione, explains that the post-Covid-19 economic recovery is causing an increase in energy needs (electricity, gas, oil, etc.).
At the same time, supply is being disrupted by the Russian-Ukrainian conflict, which involves reductions or even suspensions of Russian gas deliveries to the West, and by the gradual closure of nuclear power plants in Europe.
Result: supplies in Europe are increasingly difficult. The risk of shortage is real and the increase in prices seems inevitable.
Preferential rates this year
The increase in prices can already be seen in France and other countries such as Germany, but not yet in Monaco. Indeed, the Principality has been spared so far, because although SMEG buys its electricity and gas on the European markets, the latter was able to secure supplies before the start of the war in Ukraine and the start of the health crisis.
The rates for 2022 are therefore more or less identical to those of previous years.
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40% increase in 2023
“For 2023, we find ourselves in exactly the same context as all European countries”, warns the director of SMEG who now buys electricity at much higher prices. This means that if the purchase conditions remain maintained, the increase in sales prices will be 40% next year for Monegasque residents and businesses.
A significant increase which could embarrass the most modest households and the smallest businesses. Especially since inflation is felt elsewhere. Food, real estate, fuel… The current soaring prices are sparing no sector.
To lighten the bill, SMEG is therefore thinking with the Government about setting up a buffer mechanism. In France for example, the executive puts on the tariff shield. A device consisting of capping the rise in the price of energy to protect the purchasing power of the French.