Energy prices · every Monday
PUN and PSV: the week from 2 to 8 November 2026
How electricity and gas prices moved in the week just ended, put into words: what happened, why, and what to watch in the days ahead.
The EKA team · a note every Monday
The week from 2 to 8 November 2026
The PUN rises, gas falls: less hydro
Electricity
From 2 to 8 November the PUN Index GME rose for the fifth week in a row: on average €271/MWh, almost 4% more than the previous week (GME, weekly results, PDF in Italian). Hydroelectric energy sold fell by about a quarter, while gas-fired plants sold more than a third more. Peak hours went up, off-peak hours held almost steady, and the price rose in every zone of Italy; in the South the price reached zero in some hours.
Gas
Gas on the GME day-ahead market (MGP-GAS), delivered at the PSV, the virtual trading point, fell: on average €94/MWh in continuous trading, almost 8% less than the previous week (GME, weekly results, PDF in Italian). This time gas and electricity did not move the same way.
What to watch this week
Two deadlines coming up. For anyone thinking of switching electricity supplier: Tuesday 10 November is the last day to send requests under the current procedure, and from 1 December the new rules apply (ARERA, resolution 58/2026/R/eel, in Italian; what changes for a business, in the guide). For energy-intensive and gas-intensive companies, the CSEA portal for the 2027 lists stays open until Monday 16 November.
This week’s sources
- GME, electricity market results, week no. 45/2026 (PDF, in Italian)
- GME, gas market results, week no. 45/2026 (PDF, in Italian)
- GME, electricity market results, week no. 44/2026 (PDF, in Italian)
- GME, gas market results, week no. 44/2026 (PDF, in Italian)
- GME, the gas market: M-GAS and PSV (in Italian)
- ARERA, resolution 58/2026/R/eel, the reform of supplier switching in the electricity sector (in Italian)
- CSEA, circular no. 47/2026/ELT (electricity-intensive companies, year 2027, in Italian)
- CSEA, circular no. 46/2026/GAS (gas-intensive companies, year 2027, in Italian)
The weeks before
- Week 44 of 2026, from 26 October to 1 November 2026: PUN and gas rise for the fourth week: the wind drops
- Week 43 of 2026, from 19 to 25 October 2026: PUN and gas rise for the third week: peak hours become dearer above all
- Week 42 of 2026, from 12 to 18 October 2026: Gas rises again, the PUN a little less: more wind, and in the South some hours at zero
- Week 41 of 2026, from 5 to 11 October 2026: The PUN rises by almost 8%, along with gas: the wind returns, but water falls short
- Week 40 of 2026, from 28 September to 4 October 2026: Gas falls again, the PUN stays above €200/MWh: the wind fell short
What the PUN and the PSV are
The PUN is the wholesale price of electricity in Italy, hour by hour, on the GME day-ahead market; today its name is PUN Index GME. The PSV, the virtual trading point, is the place on the national network where gas is traded: its price is the wholesale gas benchmark. Indexed electricity and gas offers almost always start from here.
What the PUN and zonal prices are, and which of the two concerns you: the guide.
Why in words
The GME publishes the prices, day by day. Here we say what they mean. We send clients the market report: PUN, PSV, zonal prices, forward prices, the price captured by photovoltaics in each zone.
The first step
The market report
For those who consume and those who produce: prices read at the source, and what they change for you.