June 14, 2019 / 10:07 AM / a month ago

Government plans to cut French gas tariffs by 6.7% in July - Les Echos

PARIS, June 14 (Reuters) - Regulated gas prices paid by around 4.6 million customers to French energy group Engie could fall by 6.7 percent on July 1 according a draft government plan, Les Echos newspaper said on Friday.

The paper said this was the result of a sharp decline in world gas prices since the end of last year.

France’s CRE energy market regulator - which recommends regulated gas and electricity tariffs to the government for a final decision - was not immediately available to comment.

Regulated gas prices are expected to end by 2023 after a decision by France’s highest administrative court ruled in 2017 that the CRE-fixed tariffs hurt competition and were against EU regulations.

Reporting by Bate Felix Editing by Geert De Clercq

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