March 25, 2019 / 3:24 PM / a month ago

French power price hike plan against clients' interest-antitrust body

PARIS, March 25 (Reuters) - France’s competition authority said on Monday that a planned increase in regulated power tariffs proposed by energy regulator CRE is not in consumers’ interest and asked the regulator to reconsider its recommendation.

In January, the CRE proposed to increase state-controlled utility EDF’s regulated power tariffs by 7.7 percent excluding taxes (5.9 percent tax included), which would be the highest increase in years.

France’s Autorite de la Concurrence said in a statement on Monday that the CRE proposal is unfavourable for the 28 million clients on regulated tariffs because it does not correspond to EDF’s costs but is rather aimed at allowing the firm’s smaller competitors to propose prices similar to or below regulated tariffs. (Reporting by Geert De Clercq Editing by Bate Felix)

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