Universal Registration Document 2021

5. The group financial performance and outlook

5.1.2.3 Sales tariffs for electricity and natural gas

In France, the “blue” regulated sales tariffs were raised:

  • on 1 February 2021 by +1.93% excluding taxes (+1.61% including taxes) for residential customers and +3.23% excluding taxes (+2.61% including taxes) for non-residential customers;
  • on 1 August 2021 by +1.08% excluding taxes (+0.48% including taxes) for residential customers and +0.84% excluding taxes (+0.38% including taxes) for non-residential

In the United Kingdom, a cap on the variable gas and electricity tariffs for residential customers was introduced on 1 January 2019. It is updated every six months, mainly to take account of market price movements in the previous six months. This tariff set for the period 1 October 2021 to 31 March 2022 (a 12% rise) did not reflect the significant increase in supply costs caused by the rise in energy prices, particularly gas prices, since September 2021. Consequently, Ofgem held a consultation on the price cap methodology, to make sure that energy prices adequately reflect the costs, risks and contingencies faced by suppliers.

On 4 February 2022 Ofgem announced a 54% increase in the energy price cap for the period 1 April – 30 September 2022. In view of this very large increase, the UK government announced consumer support measures totalling around £9 billion in the form of a £200 reduction on every household’s October 2022 energy bill, to be repaid over 5 years, and other aids for the most vulnerable consumers.

In Italy, the average PUN TWA (Single National Time Weighted Average) electricity tariff for 2021 was €125.5/MWh, up by 222.4% from 2020 (€38.9/MWh). This significant increase is explained by a substantial rise in demand associated with the post-Covid economic recovery, and higher thermal generation costs (gas and CO2 quotas). The spot price for gas registered a significant increase of 342.8% over its 2020 level. The rise was accentuated by colder temperatures from May, which led to greater consumption of gas reserves.

5.1.2.4 Weather conditions: temperatures and rainfall
5.1.2.4.1 Temperatures in France

2021 was a relatively cool year, with an average temperature of 12.4°C (0.3°C below normal). This cooler weather was particularly noticeable in the months of May, July, August and November. Nonetheless, there were warmer episodes in 2021 in September, and in the winter (late January, late February, late March and late December).

Average monthly temperatures (1) (2) in France

This graph shows us the average monthly temperatures (1)(2) in France.

2021

January: approximately 5°C

March: approximately 7°C

May: approximately 11°C

July: approximately 19°C

September: approximately 17°C

November: approximately 7°C

December: approximately 7°C

2020

January: approximately 6°C

March: approximately 8°C

May: approximately 11°C

July: approximately 18°C

September: approximately 17°C

November: approximately 11°C

December: approximately 7°C

Average seasonal temperatures

January: approximately 5°C

March: approximately 7°C

May: approximately 14°C

July: approximately 18°C

September: approximately 17°C

November: approximately 10°C

December: approximately 5°C

(1) Average temperatures recorded in 32 cities, weighted by electricity consumption

(2) Source: Météo France.