September will be a blow to the wallets of Italians. Wholesale electricity prices soared to 218.9 euros per megawatt hour, beating August's all-time high. The peak clock costs 321 euros.

Consumer advocacy group Codacons warned that due to regional tensions around Iran and dependence on gas, bills will rise by 633 euros by November. Gas stations provide more than half of the energy, so price shocks are felt most quickly here.

Experts at Elettricita Futura call the alarm an exaggeration, because many live at fixed rates. The government is discussing the return of nuclear power in 30 years.