Gaz de France (GDF) had reportedly sought a 6.1% increase in the wholesale gas tariff and a 5.8% raise in the retail tariff, according to Thomson Financial.
In a possible indication towards a tariff hike, the French Finance Minister Christine Lagarde was quoted by Thomson Financial as stating that tariffs have not changed over the past 18 months, while oil prices have increased by 23% during the same period.
GDF has to receive regulatory approval before the hike in tariff can be realized. The French Finance Ministry is the final authority over such approvals.
