French electricity prices may rise 3%-4% in early 2011 - report
(ADPnews) - Oct 25, 2010 - French electricity prices may increase by 3% or 4% at the beginning of 2011, to support the development of renewable energy, according to estimates published today by French daily Les Echos.
The authorities plan to hike the so-called CSPE tax -- which is meant to fund the development of renewable energy -- to EUR 7.50 (USD 10.5) per a megawatt hour (MWh), from current EUR 4.50. The increase will bolster the finances of French energy company EDF (EPA:EDF), which is obliged to buy costly green energy.
The electricity tariffs in France already rose by 3.4% on average in August this year.
Today in Paris, shares in EDF had gained 1.98% to EUR 32.495 at 0959 CET.