French utility Gaz de France (1020848.FR) has received the green light from the French government to raise its tariffs for French consumers by 4% from Jan. 1, a person close to the matter Thursday said.
French Finance Minister Christine Lagarde had said earlier in December that the increase would be less than 6%. According to French press reports, Gaz de France was seeking a 6.1% average increase, the first increase in its tariffs in 18 months, to offset the rising cost of gas supply.
The decision could be made public by the end of the week after the Commission for the Regulation of Energy has been consulted, according to press reports Thursday.
Gaz de France declined to comment.