French Regulator Recommends Increasing Gas Tariffs
French energy market regulator CRE has recommended an 8.1 percent increase in gas tariffs paid by 4.7 residential and business in France to Engie from July 1, due to the global increase in gas prices.
The CRE, which recommends regulated gas and electricity tariffs to the government for a final decision, said Engie's supply costs are expected to increase by around 3 percent as of July 1 due to higher natural gas prices.
Regulated gas prices are expected to end in France after a decision by France's highest administrative court in July last year said the regulated gas tariffs fixed by CRE, hurt competition and were against EU regulations.
(Reporting by Benjamin Mallet Writing by Bate Felix; Editing by Brian Love)