Bruno Le Maire, Minister of the Economy and Finance, also responsible for energy since this month, chose TF1’s “8 p.m.” on Sunday, January 21, to confirm a ” difficult decision “. Even as the price of electricity falls on the wholesale market, where suppliers place orders with producers, French households will experience a further increase in their bill. This time, for tax reasons.
Set by the public authorities, revised twice a year, the regulated electricity sales price will increase by 8.6% on 1er February compared to the base rate applied in August 2023. And the increase will be even greater, of around 9.8%, for the peak-off-peak rate. For small businesses, depending on the contracts, the change will be between 5.2% and 8%.
The government thereby confirms the gradual extinction of the “tariff shield”. In other words, he decides to raise the level of the internal tax on final electricity consumption. From 1er February, this excise will amount to 21 euros per megawatt hour (MWh), as the finance law for 2024 authorizes.
Previously, between 2022 and 2023, the executive had lowered it to 1 euro per MWh for individuals. Enough to limit the price increase to 4% on average, all taxes included, in February 2022. Then to 15% (instead of 99% without shield, in theory) in February 2023 and to 10% in August 2023 (instead of of 74.5%).
At 1er February 2024, if the government had maintained taxation at 1 euro per MWh, the drop in prices on the wholesale market would have allowed consumers to finally stabilize their bill. This is what emerges from the calculations of the Energy Regulatory Commission, an independent administrative authority. Calculations that the government may or may not follow.
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The increase in taxation will bring 6 billion euros to the State, according to Bruno Le Maire. A welcome sum, according to him, for investing in new low-carbon electricity production capacities (nuclear, solar, wind). It’s only a year from now, on 1er February 2025, that the tax will return to its level before the tariff shield, he said. Or 32.44 euros per MWh.
As early as September 2023, the Minister of the Economy had stated that the increase in February 2024 would be below 10%. This will be the case for the majority of households, apart from those who have subscribed to the “shedding” option on peak days (+ 10.1%). But this is far from enough to satisfy everyone.
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