Italian utility Edison enters retail broadband market
MILAN, Sept 23 (Reuters) -Energy group Edison EDNn.MI said on Monday it would add fiber broadband services to its retail offer as Italian utilities vie for customers.
A partial liberalisation of the domestic gas and power markets earlier this year has increased competition among Italian energy suppliers, prompting them to come up with new marketing offers.
Edison said its broadband services would be part of a broad offer for households, which includes electric vehicle charging and insurance in addition to the usual gas and power contracts.
Similar strategies have been adopted by other Italian energy groups, including the country's biggest utility Enel ENEI.MI, and could increase price pressure in the country's hyper-competitive telecoms market.
Edison, which has 2.8 million retail customers for its power and gas services in Italy, said it aims to sell its broadband service to 10% of its customer base by 2028.
Starting next month, Edison will offer existing customers the option to subscribe its broadband service at 19.90 euros per month, below the average monthly household spend of 28 euros.
"For those who are already Edison customers the monthly subscription fee is below the market average," Edison Energia CEO Massimo Quaglini said at a press event in Milan.
Edison has secured wholesale connectivity capacity from full-fiber optic network operators Open Fiber and Fastweb SCMN.S, said Quaglini.
Reporting by Elvira Pollina and Giancarlo Navach,
Editing by Christina Fincher
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
