France: EDF envisages a 5% increase in power tariffs in August

09/07/2013 00:33 Electricity Market


The French government has allowed French state-controlled power utility Electricite de France (EDF) to increase its electricity tariffs for residential consumers by 5% in August, and by the same share in August next year, citing recent increases of the company's production costs.

This would be the largest hike in at least a decade as the government wants to halt lawsuits by EDF’s rivals, who are iterating that the artificially low tariffs hurt competition. The decision came after the French government last year decided to cap regulated tariff increases at 2% a year, in order protect households. However, the French regulator CRE recommended last month increasing power tariffs between 6.8% and 9.6% as soon as this summer and then by 3.2% in both 2014 and 2015. Over recent years, EDF, which is the world's largest nuclear operator, had to cope with high costs, mainly because of additional investments imposed on the company's nuclear power plants to increase safety standards.

Daily (02.03.2021): Oil prices fell sharply on Monday amid jitters that OPEC will raise output

02/03/2021 09:24:00

Crude oil futures extended losses on Monday amid supply concerns ahead of the OPEC+ key meeting on Thursday, rising output from Venezuela, and weak crude demand from China. Hence, Brent crude settled at $63.69 a barrel, dropping by $2.44, or 3.7%. Meanwhile, U.S. WTI crude fell by 0.86 cents or 1.4%, to end at $60.64 a barrel.


Lithuania to start supplying LNG to Poland next year

02/03/2021 08:57:00

Lithuanian state-controlled energy company Ignitis Group will start supplying liquefied natural gas (LNG) to Poland next year when a new pipeline between the two countries comes online, its CEO said on Monday.


ENA brings more flexibility to the grid with contract update

02/03/2021 08:53:00

The Energy Networks Association (ENA) has updated its standardised flexibility contract used across the energy sector to offer more transparency and increase accessibility.