French Regulator Seeks 4.4% Gas Price Cut in April

French energy regulator CRE has recommended a 4.4% reduction in the gas tariffs that around 4.6mn residential users pay Engie, it said in a statement on March 30.

Prices were lowered by 3.3% in February and 4.6% in March. Prices have fallen by 22.2% since the start of 2019. The government will have the final word on the cut.

European gas prices have reached historic lows in recent weeks as Covid-19 lockdowns come into force across the continent. The April contract at the Dutch-based TTF hub has lost a  fifth of its value since the start of March and is trading €6.97/MWh, down 3.75% on the previous market close.