PARIS, July 18 (Reuters) - The French government has decided to raise regulated household electricity prices by 10% starting from August, a government official said on Tuesday, confirming a report from newspaper Les Echos.
The government official added that this will be the only price hike until February 2024.
The 10% increase is much lower than the one proposed by the French Energy Regulatory Commission (CRE), which - based on current market prices - recommended an increase of 74.5%.
“We are in a phase of returning to normal, or in any case of returning to a new balance after the energy crisis that we experienced, even if obviously energy prices remain high,” said the government source, emphasizing that the French would continue to benefit from some of the lowest prices in Europe.
In May, Finance Minister Bruno Le Maire said France’s cap on electricity prices would be phased out and end at the end of next year.
Ah thanks, I didn’t see the connection in the Reuters article with the Russian war and recent inflation but it’s right there in the middle part:
Lots of countries have subsidised energy because of the war, so nothing unusual happening. When I read the news, I was thinking about the overall debt that EDF is collecting over the years and thinking about price increases to help here. But that is completely unrelated.
https://www.statista.com/statistics/1342612/debt-of-edf-group/