July 26, 2019 / 9:13 AM / 5 months ago

French regulated gas tariffs to fall by 0.5% from Aug. 1 -CRE

PARIS, July 26 (Reuters) - France’s CRE energy market regulator on Friday recommended a 0.5 percent reduction in regulated gas tariffs, paid by around 4.6 million residential customers in France to Engie, as from August 1.

The cut follows a 6.8 percent drop in July.

The CRE, which recommends regulated gas and electricity tariffs to the government for a final decision, said the drop in August was due to a corresponding fall in Engie’s supply cost.

Regulated gas prices are expected to end by 2023, after a decision by France’s highest administrative court last year that the tariffs hurt competition and were against EU regulations.

Reporting by Bate Felix; Editing by Sudip Kar-Gupta

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