French Gov: Drafting Decree Limiting Rise of Gas Tariffs to 2% on Year
07/09/2012| 12:05pm US/Eastern
By Hugo Passarello
PARIS--The French government is preparing a decree limiting the rise of regulated natural gas tariffs to 2% a year, or approximately the inflation rate, said the Energy Ministry in a statement Monday.
The government is also considering limiting the rise in electricity tariffs for households, said the ministry in the statement.
The French administration said it had submitted a draft of the decree to France's energy commission CRE, adding that capping utility prices would "help shield household's spending power."
French gas utility GDF-Suez (>> GDF SUEZ) has been pushing the present government as well as the previous administration for higher tariff increases. In June, it lobbied the French Energy Regulation Commission for a 5% increase.
France's year-on-year rate of inflation was 1.9% in May, according to the latest data from the National Statistics Institute.
Write to Hugo Passarello at firstname.lastname@example.org
Stocks mentioned in the article : GDF SUEZ