August 15, 2022

Urges consumers to reduce energy use by French energy companies

On February 25, a pair of storks nest on top of high-voltage power lines in front of the chimney of the Electricite de France (EDF) coal-fired power plant at the Cordemais coal-fired power plant in Boueee, France. 2022. REUTERS / STEPHEN MAHE

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PARIS, June 25 (Reuters) – Leaders of France’s major energy companies on Sunday called on individuals and businesses to immediately curb power consumption.

“In order to get the maneuver back on track, we need to work together to reduce our consumption,” said Engie’s CEOs. (ENGIE.PA)EDF (EDF.PA) And total (TTEF.PA) Said in an open letter published in the weekly newspaper The Journal to Dimanche.

The letter, signed by Engie’s Catherine MacGregor, EDF’s Jean-Bernard Levy and TotalEnergies’ Patrick Pouyanne, cited a sharp decline in Russian gas exports and lower power generation due to maintenance issues.

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Prime Minister Elizabeth Bourne said on Thursday that France aims to replenish its gas storage facilities in early autumn. The country’s gas storage facilities are currently 59% full.

Russia’s invasion of Ukraine has drawn attention to Europe’s confidence in Russia’s gas, sparking a struggle to find alternative energy sources.

In March, French media reported that the government was in talks with TotalEnergies to increase its ability to obtain LNG, following the US’s readiness to increase supplies to Europe.

“Taking action soon this summer will allow us to be better prepared for the start of next winter, especially to protect our gas reserves,” energy company executives said in their letter, adding that efforts to reduce consumption should be “immediate. Collective and massive”.

They cited their own efforts to discover new sources of gas and build a floating liquefied natural gas (LNG) terminal in the northern port of Le Havre.

France recently extended its mechanism for regulating gas prices until the end of the year. Originally scheduled to run until the end of June, the system will mitigate the effects of rising energy prices on consumer purchasing power.

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Report by Nicholas Delem, Benjamin Mallet and Mimosa Spencer Edited by Sandra Maller and David Goodman

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