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Pellets are still worth it! Comparing fuel prices
Electricity, methane and pellets: AIEL's analysis
Electricity, methane and pellets: AIEL's analysis
In an article published on its website, AIEL gives a clear answer to all consumers who, with the rise in fuel prices in recent months, are wondering which is the most convenient way to heat their home.
The comparison shows that pellets are still the cheapest fuel, saving 30% on final energy costs compared to natural gas. Certainly the increase in the price of pellets is there for all to see, with the average consumer price standing at around €12 per bag (including VAT).
However, it is much more difficult to understand the real price of the methane and electricity we use to heat ourselves, even with the bill before our eyes. It is even more difficult to predict the increase that the prices of these fuels will undergo during the heating season (15 October / 15 April).
The price of natural gas and electricity
The price of natural gas and electricity
The average monthly cost of methane wholesale transactions (data source: GME, gas day-ahead market) grew from 8.219 €/MWh in August 2020 to 231.736 €/MWh recorded on average in August 2022, with peaks of even more than 300 €/MWh.
The price of the 'gas commodity' has thus grown by more than 25 times compared to the price two years ago.
To analyse the electricity price trend in Italy, reference is made to the PUN, the Single National Price. The average purchase price rose from 40.32 €/MWh in August 2020 to an average of 543.15 €/MWh in August 2022, reaching peaks of over 700 €/MWh in the same month.
The price of electricity is therefore more than 10 times more expensive than two years ago.
Also in this case, as for natural gas, the surveys refer to the wholesale electricity market, with the price referring only to the energy component, without considering taxes, transport and meter management, retail marketing and system charges. In fact, according to data published by ARERA, in the third quarter of 2022, electricity supply costs weighed 75% of the total costs for a household with 3 kW of committed power and 2,700 kWh of annual consumption.
The price of pellets
The price of pellets
For the price of pellets there are no official surveys, although it is rather easy for consumers to keep track of their costs and consumption by simply consulting purchase invoices or sales prices displayed in various shops.
In any case, AIEL surveys the average selling price of certified pellets in class ENplus A1 declared by certified producers and distributors in Italy.
From the analysis carried out, maintaining the same method of comparison already used for methane and electricity, the average price of pellets (ENplus A1 class, VAT excluded) to the consumer went from €4.35 per bag in 2020 to about €10 in August 2022, with prices more than doubling in the two-year reference period.
Fuel comparison
Fuel comparison
At this point, in order to make a correct comparison between the various energy sources, a calculation must also be made considering the final energy costs, i.e. those referring to the MWh returned to the plant.
It is therefore necessary to add taxes and charges to the energy prices, based on ARERA's findings for natural gas and electricity, and add VAT for pellets. Furthermore, in order to correctly compare the various sources, we have assumed the use of three 'typical' generators for the reference fuel, among the most popular in Italy, using their respective efficiencies to obtain the final cost for thermal energy to the consumer.
Based on the calculations made, pellets are still the cheapest fuel among those analysed with a saving of over 30% compared to natural gas.
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