France's energy regulator Thursday said a rise in state-controlled
natural gas tariffs proposed by utility GDF Suez SA (GSZ.FR) complies
with an official formula used to calculate the company's costs of
supply.
GDF Suez buys in much of its gas from companies, including
Russia's OAO Gazprom
(GZP.RS). Most natural gas is sold at prices linked to crude oil, which
has risen of late.
GDF Suez' proposed increase "would translate into an average
rise of 4.7%" for the 6.3 million clients who use gas for heating at the
B1 tariff, said the energy regulator, or CRE.