Traders appeal to government for help against “grossly disproportionate to actual market prices” electricity prices

Electricity prices “grossly disproportionate compared to real market prices”: The Confederation of French Traders (CDF) has asked Economy Minister Bruno Le Maire to bring together electricity suppliers to renegotiate what they consider “unreasonably high” prices. The confederation brings together about twenty organizations of independent traders (florists, clothiers, markets, booksellers, tobacconists, fairgrounds, etc.).

Its members “request the Minister of Economy to immediately call a meeting of all commercial players, under his authority, to start discussions on the renegotiation of contracts with major electricity suppliers and distributors”.

This request follows the request of hoteliers and restaurants. The Group of Hotels and Restaurants of France (GHR) and the Union of Hotel Trades and Industries (UMIH) called on Bruno Le Maire on 12 February to renegotiate the prices of their electricity contracts, which they considered “above ground”.

According to the CDF, which says it represents more than 450,000 companies and a million employees, electricity suppliers “stubbornly refuse to adjust their prices despite falling energy costs”. Small businesses in city centers “will be forced to endure energy prices of up to 350 euros per MWh while the current market rate is less than 90 euros per MWh,” the organization asserts. CDF recalls “record profits” of electricians in 2023: EDF ended the year with a net profit of 10 billion euros.

According to a survey conducted at the end of January by GHR and UMIH, “more than half of the professionals (59%) remain bound by energy supply contracts at very high prices, i.e. more than 180 euros per MWh when the energy price has decreased per MWh from the end of 2022 and it This is less than half the price. “Ten to 15% of professionals will also be bound by contracts with prices higher than 350 euros per MWh,” according to the two unions.

Electricity prices increased for most French people on February 1 with the end of the “price shield”. For small businesses, the increase was 5.2 to 8% depending on the contract.