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France’s household gas prices will increase 11.7% to €129.2/MWh in July 2024

The French energy regulator Commission de Régulation de l’Energie (CRE) has announced that France's benchmark gas prices for households will rise to an average of €129.2/MWh from July 2024, an 11.7% increase compared to current levels. Despite the new price representing a €13.5/MWh increase compared to the month of June, it remains €4.7/MWh lower than the average price of January 2024 (-3.5%).

According to CRE, new tariffs for distribution grids accounted for 55% of the increase, while a price hike on gas wholesale markets also played a significant role, accounting for 37% of the increase. 

According to the French gas transmission system operator (TSO) GRTgaz, gas consumption in France decreased by 11.4% in 2023, reflecting new behaviours in terms of gas use and conservation. In 2022, gas consumption in France had already fallen by 9%.