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Paris, December 30, 2007 – The tariffs of natural gas for public distribution will increase by an average of 0.173 euro cent/kWh on January 1st, 2008. This is the first change in rates since May 2006, whereas the price of oil has risen by 33% since that date, reaching 93 $/b in November 2007.
Natural gas tariffs will increase less than originally planned. Indeed, the company had initially asked the authorities to approve an increase of 0.261 euro cent/kWh in accordance with the public service contract between Gaz de France and the French State, as well as the order of June 16, 2005.
As a result, this increase will not allow Gaz de France to pass on the full burden of its supply costs in the rates charged for natural gas. The negative impact on the Group's operating income is estimated at approximately €90 million for the first quarter of 2008.
Gaz de France is attached to the principle that gas tariffs should faithfully reflect the costs incurred by the company. This is why the Group intends to finalize as rapidly as possible the new public service contract with the French State and draw the consequences of the decision handed down by the French Council of State on December 10, 2007.
For customers using natural gas for heating, these new rates will lead to a 4% increase in their gas bills, or an additional charge of €2.15 per month for a flat and of €2.90 for a house*.
Against a background of expensive energy worldwide, natural gas remains the most competitive source of energy for heating, and the natural gas rates in France are among the lowest throughout Europe.
*A flat with an average consumption of 12,000 kWh/year and a detached house with an average consumption of 17,000 kWh/year.
Group profile:
The Gaz de France Group is a major energy player in Europe. As the leading natural gas distributor in Europe, Gaz de France employs more than 50,000 employees and earned €27.6 billion in sales in 2006. The Group holds a portfolio of 14 million clients, approximately 11 million of which are in France. Listed on the Paris Stock Exchange in July 2005, Gaz de France has also been part of the CAC 40 and Dow Jones Stoxx 600 indices since September 2005.
Press contact:
Armelle Dillar
Tel.: 33-1 47 54 30 17
E-mail: armelle.dillar@gazdefrance.com
Investor relations contact:
Brigitte Roeser Herlin
Tel.: 33-1 47 54 77 25
E-mail: GDF-IR-TEAM@gazdefrance.com
2007 Registration document
2007 Annual Report
2007 Sustainable Development Report
