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