Gas prices in France to rise 5.4% from November

Regulated gas prices in France are to rise by 5.4% on November 1, energy board La Commission de Regulation de l’Energie (CRE) has confirmed, putting this year’s rise at 16.4% in total.

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The rise will be the third significant increase since January.

The price of gas is calculated in part using the globally-standardised price of a barrel of oil, which has jumped considerably in recent months.

The CRE has also confirmed that tariff costs have risen due to practices such as energy company Engie importing 99% of its gas, meaning it must pay market prices, which have also risen in recent months.

The price is also affected by factors such as transport and distribution costs, as well as additional taxes.

Around 4.5 million homes in France are still affected by regulated gas prices, accounting for nearly half of gas policies in the country.

Yet, a new law - dubbed la Loi Pacte - is set to end regulated gas prices in France from 2023, to bring them into accordance with European law.

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nature gas fuel french news environment energy production energy

nature gas fuel french news environment energy production energy