PARIS, Sept 11 (Askume) – French electricity regulator CRE recommended that state-regulated domestic electricity prices be reduced by at least 10% from February 2025 to ease the financial burden on people.
Why is this important?
French voters’ dissatisfaction with inflation was reflected at the ballot box in this year’s European and national elections, with both left-wing and right-wing opposition parties making gains.
situation
European electricity prices have risen over the past two years , mainly due to the war in Ukraine and problems at state-owned power company EDF, which has had to repair several nuclear reactors affected by stress corrosion cracking.
After the war in Ukraine, France took the lead in restricting electricity prices and gradually lowering them. The average electricity cost is relatively low compared to other European countries.
what happens next?
The government will have to decide whether to follow the regulator’s advice, but outgoing Finance Minister Bruno Le Maire said earlier this year that he was in favour of a significant reduction in electricity prices.
