The period between the two rounds of the legislative elections in France is marked by a significant increase in gas prices, causing concern for millions of French citizens. This increase of almost 12% in gas prices, which came into effect on Monday, is mainly attributed to the rise in gas network maintenance costs and market prices, as announced back in March. The average annual gas bill is expected to increase by 124 euros, from 1,060 euros in June to 1,184 euros on July 1.
The Energy Regulatory Commission (CRE) has set the average benchmark price of kWh at around 13 cents for July. The increase in gas transmission costs, borne by the GRDF distribution network manager, is necessary to cover maintenance and modernization expenses for gas infrastructure, as well as integrating green gas into pipelines. Despite the increase, the price in July is still lower than in January when the tariff shield ended.
The issue of rising energy prices has become a central point of discussion in the ongoing legislative elections. Political parties are proposing various measures to address concerns about purchasing power. The Macronist Renaissance party aims to create an energy renovation fund to assist middle and working-class households with home insulation and decarbonization. Minister of Economy and Finance, Bruno Le Maire, has announced a decrease in regulated electricity prices for 2025.
The National Rally party plans to lower the VAT rate on gas, electricity, and fuels from 20% to 5.5%, which could cost around 10 billion euros per year. However, this measure would need approval from Brussels and may face challenges in implementation. The New Popular Front (NFP) proposes to reduce energy company margins by lowering VAT rates and freezing prices of basic necessities through decree. These measures aim to address concerns about inflation and ensure fair competition at the European level. Political parties are exploring various solutions to mitigate the impact of rising energy prices on French households.
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