French govt may hike electricity prices to fund renewable energy - report
(ADPnews) - Oct 12, 2010 - The French government may hike electricity rates again to cover costs for the development of renewable energy, business daily Les Echos reported on Tuesday, quoting unnamed officials.
The new price rise will come after the 3.4% hike on average, introduced on August 15.
The costs for the development of green energy are covered by contributions to the public service for electricity, which represents nearly 5% of private customers' electricity bills.
France targets 5,400 MW of solar energy capacity by 2020, whose annual cost will reach EUR 500 million (USD 692m) in 2013 and nearly EUR 1.5 billion in 2020, according to a report quoted by Les Echos.