Fastweb eyes 150 mln euros in revenues entering Italy's energy market

Iren S.p.A.

03/04/2024 13:22

MILAN, April 3 (Reuters) - Swisscom's Italian  SCMN.S 
unit Fastweb will enter the Italian energy market with the aim
of generating 150 million euros ($161.67 million) in revenues
and attracting more than 150,000 customers in three years.
    The targets were announced on Wednesday by chief executive
Walter Renna at an event in Milan, as confirmed by his
spokesperson. 
    Fastweb, which has so far focused on internet and mobile
connections, said it would offer electricity from renewable
sources for a fixed monthly fee, depending on the consumption
band.
    Italy is set to open up the electricity market for
households and small businesses starting from July, eliminating
a regulated price regime in line with its commitments with the
European Union. 
    Former energy monopoly Enel  ENEI.MI  could lose some
customers, while regional utilities including A2A  A2.MI , Iren
 IREE.MI , Hera  HRA.MI  and ACEA  ACE.MI  could benefit from
the liberalisation, financial analysts have said.

($1 = 0.9278 euros)

 (Reporting by Claudia Cristoferi, editing Alvise Armellini and
Tomasz Janowski)
 ((Claudia.Cristoferi@thomsonreuters.com; +39 06 80307733;))