November 23, 2018 / 10:23 AM / a month ago

French gas tariffs to fall by 2.4 percent from Dec. 1 - CRE

PARIS (Reuters) - France’s CRE energy market regulator on Friday recommended a 2.4 percent drop in regulated gas tariffs, paid by around 4.6 million residential customers in France to Engie (ENGIE.PA), as from Dec. 1.

The CRE, which recommends regulated gas and electricity tariffs to the government for a final decision, said the proposed decrease was due to a fall in import prices in wholesale markets for the first time in six months.

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

Reporting by Bate Felix; Editing by Gus Trompiz

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