Fixed or variable energy price in Italy: which is better?

How they work

• Fixed price: the energy price is locked for 12–24 months. You pay for peace of mind: it usually starts slightly above a variable deal.
• Variable (index-linked) price: follows a wholesale index each month plus a fixed supplier margin (spread). For electricity the index is the PUN, for gas the PSV.

When each makes sense

Variable works well when wholesale prices are stable or falling: you pay what energy is worth plus a margin. Over the last 12 months the PUN averaged about €0.12/kWh. Fixed makes sense if you fear increases or want to know your costs in advance.

There is no always-right answer: compare the estimated annual cost on your consumption, not just the price per kWh.

What to check either way

With your country set to Italy, our deal comparison ranks fixed and variable deals by annual cost on your consumption, using official ARERA data.

• The annual standing charge: it matters a lot if you use little energy.
• The spread on variable deals: that is the supplier’s margin — compare it across offers.
• For fixed deals: how long the price lasts and what happens afterwards.
• Early-exit fees and discounts tied to paperless billing or direct debit.