Fastweb arrives in the electricity market: “Offer at a fixed price and blocked for 5 years”

Milano — For once the phone doesn’t cry: on the day Fastweb announces the launch of the new energy supply service electric,Tim wins a billion-dollar lawsuit against the government (with Palazzo Chigi already ready to appeal to the Supreme Court).

Fastweb’s electricity offer

Fastweb instead adds energy to its offer of telephone services for customers rarelyL. «We want to create a domestic ecosystem – he explains Fastweb CEO Walter Renna – energy is a dynamic market that is opening up, where customers are dissatisfied and where, according to our calculations, we offer a 10-30% lower price.” The offer, blocked for 5 years for those who join immediately, includes everything, from transport to taxes, with a certain and constant bill, and a 5 euro discount for those who are also customers of fixed or mobile services. The user will be able to control his consumption in real time, estimating future consumption, to discourage waste, and in the event of exceeding the ceiling included in the fee, the additional all-inclusive price will be 0.45 euros per kWh. With this offer, in three years Fastweb aims to generate 150 million in revenue, reaching and retaining over 100 thousand customers, and purchasing energy directly from some suppliers and then reselling it under its own brand. «We will also launch a similar service for SMEs – says Renna – and the idea is to add other services like this over time». And this is without considering future synergies related to the acquisition of Vodafone Italywhich will be finalized by March 2025. On Fibercop, Tim’s primary network company, of which Fastweb has 4.5%, Renna reiterates: «Our position has not changed, if we can continue to carry out our industrial role we will willingly remain in the shareholding structure: this depends a lot on the negotiation with Kkr». The American fund that continues to work on the acquisition of the Telecom e which should notify the Netco operation to the EU Antitrust before the TIM meeting on 23 April.

Tim towards victory, Vodafone already in court

The other good news for the company led by Pietro Labriola was the victory in second instance in a case that dates back to 1998: Tim goes 529 million euros plus expenses and interest which raise the compensation to one billion. The subject of the dispute is a connection fee, which according to EU directives, had to be mitigated after the privatization of 1997. Palazzo Chigi has already made it known that it will appeal to the Supreme Court, asking to suspend the executive effects of the sentence. However Vodafone, for the same issue, has already won in the Supreme Court in 2020, grossing 49 million.

The sentence arrives in a moment of good relations between Tim and the Government, ready – through the Mef – to take over 20% of the group’s network, 51% of Sparkle and to support through Cdp the renewal of the current management list led by Labriola. THEWhile waiting for the Court of Cassation, Tim shares rose 5.19% yesterday a 0,23 euro.