10/23/2020

French Power Providers Face 11 pct Rise in Renewables Surcharge in 2016

Oct 29 The rising cost of funding renewable energy means utility EDF and other French power providers face an 11 percent rise next year in a surcharge they pay that is used to subsidise the renewable sector, the energy watchdog said on Thursday.

That is less than the 17 percent rise this year, however.

France’s energy watchdog, CRE, said the surcharge needs to raise 7 billion euros ($7.7 bln) in 2016, up 11 percent from this year.

“The increase in the cost between 2014 and 2016 is due to the development of solar and wind energy sectors, which represent 39 percent and 17 percent respectively of the total estimated surcharge,” CRE said in a statement.

To cover the surcharge, heavily indebted EDF levies a tax on French households’ electricity bills, called CSPE.

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