The French State Council has invalidated three tariff decisions to limit gas price rises decided by the government in 2011 and 2012 and decided to implement a new retroactive increase. The increase will reach €23 on average per consumer and will be spread over 18 months, or €1.30/month. GDF SUEZ expects recovering €151m from this decision, in addition to €214m linked to a previous price decision (July 2012).
To avoid further tensions over regulated gas prices, a new calculation formula will enter in force, with gas prices set every month on the basis of a longer reference period (8 months instead of 6 months, as previously). A larger share of gas tariffs will be based on Spot prices (36%, from the current 26%) to benefit from price decreases. Finally, social tariffs will be extended. These changes in the formula have allowed gas prices to increased by 2.4% only in January 2013 and as of 1st February, gas prices will even drop by 0.5%.
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