Faced with a tense economic situation and a global energy market in complete upheaval, electricity prices are expected to further increase significantly in 2024.
The government has also confirmed this increase in prices for February 2024 while announcing to extend the tariff shield to limit the increase in prices to 10 %. Concretely, your electricity bill could increase by 10% but not more. A start that aims to be “moderate” in view of the more alarmist predictions.
This announcement, made by Agnès Pannier-Runacher, Minister of Energy Transition, follows a first tariff increase of the same order last August.
???? Price of electricity ➡️ “Prices will not change by the end of the year”, assures the Minister of Energy Transition. “As of February 1, 2024”, Agnès Pannier-Runacher assures that the regulated tariff “n “will not increase by more than 10%”. #8h30franceinfo pic.twitter.com/9kVEE6zxRu
— franceinfo (@franceinfo) November 3, 2023
A price shield to cushion shocks
To counter the inflation of energy costs, the Government has implemented a price shield.
This measure was designed to cover a substantial part of the French energy bill, precisely 37%, until the end of 2023.
This temporary commitment by the government has been renewed for 2024 but raises questions about the long-term strategy and many observers are wondering in particular what will happen after the lifting of the tariff shield.
The repercussions of the current energy crisis
The increase in electricity prices is not a new phenomenon, but takes place in a context of energy crisis exacerbated by external factors such as the war in Ukraine and the relative underperformance of the French nuclear fleet.
However, thanks to the 36 nuclear power plants currently operating at full capacity, France expects an improvement in the energy situation for winter 2023although vigilance remains essential.
Energy sobriety: a key asset
The Minister of Energy Transition highlighted the crucial role of energy sobriety, which contributed to a 12% drop in energy consumption last winter.
This significant reduction in dependence on gas and oil imports demonstrates the effectiveness of such measures and encourages their sustainability.
Dialogue and anticipation: the conference on energy prices
A conference is planned to bring together local elected officials and the presidents of energy groups.
This discussion forum aims to develop legislative responses adapted to fluctuations in energy prices, demonstrating the authorities’ commitment to taking the pulse of local concerns and responding to them in a concerted manner.
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