Electricity and Gas Quotations

PUN (Single National Price) what it is

The Single National Price (PUN) is the wholesale reference price of electricity purchased on the Italian Power Exchange market. It is set by the Gestore dei Mercati Energetici (GME) on the basis of the previous day's requests and offers placed on the market.

The PUN is a key indicator for the Italian and European energy market. Understanding its trend and the factors influencing it allows operators to optimise their strategies, companies to manage their energy costs and consumers to make informed choices for their supplies.

In addition to the Italian PUN, it is interesting to analyse price trends in other European countries:

• France: the price of electricity in France is set through a two-way auction mechanism, where producers offer their energy and suppliers buy it.
• Germany: in Germany, the price is determined by a spot market and a futures market.
• Spain: Spain uses a system similar to Italy, with a single national price (PUN) set for each hour of the day.
• Scandinavia: in Scandinavian countries, prices are generally lower due to the high production of energy from renewable sources.

PSV (Virtual Point of Exchange) what it is

PSV is the virtual market place for natural gas in Italy. It is important because it is at the PSV that the final wholesale price of natural gas is set, the price that suppliers will then use as a reference to set the gas price that buyers will pay.