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Confindustria, the Italy-system is the most affected by expensive energy

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Energy, Giovannini:

(ANSA) – ROME, JUN 15 – “The Italy-system emerges as the most affected” by the impact on production costs of energy increases. “The estimates of the Confindustria Study Center reveal how, compared to France and Germany, Italy is the country where the energy crisis risks causing the greatest damage”.

The economists of via dell’Astronomia thus sound the alarm about the increase in the “cost competitiveness gap of Italy from the main European partners”. And they update the estimates: “In monetary terms this impact would translate into an increase in the Italian energy bill including (depending on the assumptions underlying the estimates) between 5.7 and 6.8 billion euros on a monthly basis, or in a greater cost between 68 and 81 billion on an annual basis. Looking only at the manufacturing sector, the increase in energy costs can be quantified between 2.3 – 2.6 billion monthly, or between 27.3 – 31.8 billion on a monthly basis. For Germany, the increase in energy costs is estimated at between 7.7 and 8.0 billion per month (91.9 – 95.7 per year) for the total economy and at approximately 3.7 -3.8 billion per month ( 45.9 – 47.2 per year) for manufacturing alone, while for France the estimates are between 1.7 and 1.8 billion per month (20.2 – 21.8 per year) for the total economy and about 0 , 6 billion per month (7.5 billion per year) for manufacturing alone “.

Thus, the CsC report highlights that “with unchanged pre-crisis policies, the incidence of energy costs on the total production costs for the Italian economy is estimated to reach 8.8% in 2022, more than double the corresponding French figure (3.9%) and almost a third more than the German one (6.8%). This would widen the cost competitiveness gap of Italy from the main European partners. And this would happen for all the main sectors of the economy: from the primary sector, to industry and services “. (HANDLE).

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Source: Ansa

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