home Finance French Economy: Gas Prices will fall by about 3.5% on 1st April

French Economy: Gas Prices will fall by about 3.5% on 1st April

Regulated gas tariffs applied by Engie (formerly GDF Suez) to 6.4 million consumers, will fall by about 3.5% on average on April 1st, we have learned  this Tuesday from a source close to the case, confirming a report in Le Figaro.

This represents the seventh consecutive month of decline in these prices include tax, which had already decreased by 3.22% in March, in a context of falling oil prices.

Regulated gas tariffs do not include various taxes, but include the Engie supply costs. They are revised monthly according to a formula that takes into account the price of gas on the wholesale market and the price of oil.

The expected decline of about 3.5% is an average, because evolution is different for home heating is gas, for those who use gas only for cooking and for those who use a dual cooking and heating.

Since the opening of the energy market to competition, the 10.6 million gas customers French consumers have a choice between regulated tariffs from the former monopoly and market prices, as proposed by Engie by its competitors (EDF, Direct Energy, Eni, Lampiris, etc.).

If they persist for individuals, regulated tariffs were completely eliminated by 1 January for business customers of natural gas and electricity, which had necessarily subscribe to a free price.

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