France pledges to restrict EDF utility hikes in 2015-18

12/12/2013 00:48 Electricity Market


France wants to restrict state-controlled utility EDF's regulated electricity tariff increases between 2% and 3% per year or less per year over the period 2015-2018, which would see a new calculation method to take effect, said an official source in the Elysée Palace.

This summer, the government unveiled the biggest increase in power prices in at least a decade to cover rising costs at EDF, giving the green light to the company to increase tariffs by 5 percent in August 2013 and a further 5 percent in August 2014. Before the rise this summer, the French Energy Regulatory Commission (CRE) had estimated that the average electricity bill for French household is expected to jump 30% by 2017 to cover the costs of EDF under the law on the new organization of the electricity market (Nome). The gap between regulated tariffs and EDF's costs was estimated at 1.47 billion euros last year. Electricity prices have become a hot political topic across Europe as subsidies for renewable energy have augmented electricity bills, triggering protest from consumers which are struggling with shrinking purchasing power.

Daily (01.03.2021): Oil prices fell on Friday amid strong U.S. dollar, concerns of stronger supply, but notched weekly gains

01/03/2021 11:10:00

Oil prices fell on Friday amid a stronger U.S. dollar and concerns that crude oil supply would rise in response to prices rebounding above pre-pandemic levels. Hence, Brent crude declined by 75 cents, or 1.1%, to settle at $66.13 a barrel. Meanwhile, U.S. WTI crude settled $2.03, or 3.2%, lower at $61.50 per barrel. However, on a weekly basis, Brent surged by 5.1%, while WTI soared by 3.8% and both hiked by 20% in February on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination rollout.


Germany receives 200 hydrogen project applications in IPCEI call

01/03/2021 08:39:00

Germany's energy ministry has received around 200 hydrogen project proposals seeking funding under the Important Projects of Common European Interest (IPCEI) program, it said Feb. 25.


Netherlands built Europe’s biggest wind capacity in 2020

01/03/2021 08:32:00

The Netherlands has topped the list of countries with the highest wind capacity installed in 2020.