French energy giants urge consumers to reduce energy use

A pair of storks stand in a nest on top of a tower of high-voltage electric power lines in front of a smoke pile at the coal-fired Power France (EDF) power plant at Cordemais in Bouy, France, February 25, 2022. REUTERS/Stefan Mahe

PARIS (Reuters) – The chiefs of France’s major energy companies on Sunday urged individuals and companies to reduce energy consumption immediately in preparation for a looming energy crisis.

“We need to work collectively to reduce our consumption in order to regain room for maneuver,” Engie CEOs said. (ENGIE.PA)EDF (EDF.PA) and total (TTEF.PA) He said in an open letter published by the weekly Journal du Dimanche.

The letter, signed by Catherine McGregor of Engie, Jean-Bernard Levy of EDF and Patrick Pouyan of Total Energy, cited sharp declines in Russian gas shipments as well as limited electricity generation due to maintenance problems.

French Prime Minister Elizabeth Born said Thursday that France aims to fill its gas storage facilities by early autumn. Gas storage sites in the country are 59% full at the moment.

The Russian invasion of Ukraine highlighted Europe’s dependence on Russian gas, prompting a scramble to find alternative sources of energy.

French media reported in March that the government was in talks with Total Energy about boosting capacity to receive liquefied natural gas after the United States said it was ready to increase shipments to Europe.

“Taking action once this summer will allow us to be better prepared at the start of next winter, particularly to preserve our gas reserves,” the energy company executives said in their letter, adding that efforts to reduce consumption should be immediate. Massive and massive.

They cited their own efforts to find 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 to regulate gas prices until the end of the year. Originally scheduled to run until the end of June, the system aims to limit the effects of rising energy prices on consumers’ purchasing power.

(Covering) Nicholas Dilam, Benjamin Mallet and Mimosa Spencer Editing by Sandra Maller and David Goodman

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