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Home gas prices up in France April 1, up 20% in past year

According to this article published in French magazine Le Point, the Commission de régulation de l’énergie (CRE), the French Energy Regulatory Commission, has approved a request for a price hike in natural gas used for home heating.

The energy company GDF Suez, in which the French government has a 35% stake, requested the increase, which will take effect April 1. The increases have been steady, and this last measure will make rates 20% higher than a year ago, and 60% since 2005.

Consumer organizations, notably association de consommateurs UFC Que Choisir, have voiced discontent with this measure, as the increases over the past year have meant an additional 200€ on average spent by families.

The article specifies that most of the natural gas that GDF Suez imports is based on 20-year supply contrats with countries such as Norway, Algeria and Russia. Pricing for gas prices takes into account the evolution of the euro-dollar exchange rate, the price of heating oil and crude oil and the price of natural gas listed in Amsterdam (or the APX-ENDEX).

Read more in the original article, “Les prix du gaz augmentent de 5,2% le 1er avril, de plus de 20% depuis un an.”

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