Italian valley enjoying opposite of cold snap (5)

I believe the answer is:

photo

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'snap' is the definition.
(thesaurus)

'italian valley enjoying opposite of cold' is the wordplay.
'italian valley' becomes 'po' (I can't explain this - if you can you should believe this answer much more).
'enjoying' is an insertion indicator.
'opposite of cold' becomes 'hot' ('hot' is the opposite to 'cold').
'po' enclosing 'hot' is 'PHOTO'.

Can you help me to learn more?

(Other definitions for photo that I've seen before include "This race finish is very close" , "Snap, pic" , "Pic (abbr)" , "Camera image" , "Snap - shot" .)

I've seen this clue in The Independent.

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