French top court will decide on EDF electricity tariff limit next week

04/09/2014 15:35 Electricity Market

news

A top French court will determine next week whether to overturn a government ceiling on EDF's regulated power prices, which could affect the utility's income and stock price.

The course of action follows a complaint by the Anode association of different power generators against Energy Minister Segolene Royal's decision to annul a 5 percent raise in electricity tariffs that had been planned for early August. Royal's statement concerning the price cap on June 19 trimmed $5 billion of market value of France's leading power supplier EDF and a cancellation of the limit could boost up the shares. Prime Minister Manuel Valls declared a few days later that there would be a tariff raise after all in the autumn, but of less than 5 percent. The State Council (Conseil d'Etat) has in the past cancelled government limits on electricity prices. In April, it decided that a July 2012 ceiling on power tariff raises established by the previous government was illicit and asked the government to apply a backdated tariff increase. In January 2013, the court also revoked caps imposed by governments on 2011 and 2012 gas price raises for consumers. Royal's restriction on tariffs is component of a Europe-wide tendency to bound energy price increases since governments aim to boost consumer spending in the face of persistently high unemployment.

Brussels opens in-depth investigation into Germany’s coal phase-out plan

03/03/2021 09:10:00

The German Bundestag sealed an agreement in June last year to compensate RWE and LEAG with €4.35 billion for closing the country’s last remaining coal plants and mining operations by 2038.

<READ MORE

Global CO2 emissions rising again after nearly 6% fall last year

03/03/2021 09:07:00

Global carbon dioxide emissions dropped by 5.8% in 2020 as the COVID-19 pandemic slowed economic activity, but they rebounded at the end of the year and are on course to rise further, the International Energy Agency said on Tuesday.

READ MORE

UK Energy Suppliers To Pay £10.4m Fine For Overcharging Customers

03/03/2021 09:04:00

Ofgem has this morning charged 18 energy suppliers, including British Gas, Shell, and Scottish Power, a combined £10.4m for overcharging their customers.

READ MORE