Paris — The French government has released a new report showing the country’s gas market is “unfair” and “unbalanced”.
Key points:A new report by the Paris government says France’s natural gas sector is “unduly burdened” by the new natural gas pricing systemThe report says France is already paying around $400 per thousand cubic metres for natural gasThe government says the cost of electricity to France is now higher than that of other European countries and the country is expected to surpass that in 2025A new law to regulate the industry, which will include stricter fuel standards and higher electricity prices, was passed in March but has yet to be implemented.
The new report, released by the Government’s National Energy Office, also says France needs to invest in gas production and transport to support its natural gas production.
“The Paris government needs to develop a long-term strategy to achieve its ambitious targets for natural-gas production and consumption, and this should take into account the costs of the natural gas,” the report says.
The report, titled “Luxembourg and the natural-Gas market: the impact of the Paris-Luxeme plan”, states that France’s gas supply and supply has increased by a total of 2.2 million tonnes a year since 2020.
The country’s total gas production was almost 2.5 billion tonnes in 2020.
According to the report, France’s total natural gas supply in 2021 was 4.2 billion tonnes.
The government estimates the gas market could double to 6.6 billion tonnes by 2030, or by 2030 it could grow to 6 trillion tonnes.
In addition to gas, France is also a major consumer of electricity, with the country expecting to double its electricity demand from natural gas by 2025.
According a report from the French energy consultancy, ING, the total electricity demand for the EU’s 28 member states in 2021 is expected at 4.6 trillion kilowatt-hours (kWh).
It is expected the average electricity bill for France will be about 2,000 euros ($2,600) a month, or $3,600 in 2021.
While the electricity sector has increased, the overall price of gas has increased over the same period, rising by nearly 1,000 per cent.