French power prices could rise 10% in early 2024

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PARIS, Sept 14 (Reuters) – French electricity prices could rise by about 10% in early 2024 if the government follows recommendations flagged by the head of the country’s energy regulator on Thursday.

The government of the euro zone’s second-biggest economy increased electricity tariffs by 10% in August as it began the phasing out of price caps put in place to help households cope with soaring energy bills since Russia invaded Ukraine.

Emmanuelle Wargon, head of the energy regulation commission (CRE), told a news conference that it was too early to pin down exact calculations for the fixed electricity tariffs French consumers can choose from next year.

The watchdog, however, flagged that its price calculation could point to an increase of about 10% from early 2024.

Once finalised, the CRE’s price calculation will be submitted for the government to make its own tariff decision, which can diverge from the watchdog’s recommendations.

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