Reshaping French energy

From the streets of Paris to the heart of Europe’s energy regulation, this episode explores how geopolitics, market design and infrastructure are reshaping France’s - and  the continent’s - energy future.

As tensions in the Gulf ripple through global gas prices and Europe’s energy markets,  France finds itself in a uniquely resilient position, buoyed by nuclear power, growing renewables and strong export capacity. But beneath that stability lie complex questions about pricing, interconnectors, and the long-term balance between supply, demand and affordability.

So how can Europe maintain energy security, keep prices competitive, and still accelerate the transition to a low-carbon future?

In this episode, Richard sits down with Emmanuelle Wargon, President of France’s Energy Regulator (CRE) and Chair of the Board of Regulators at ACER. She shares insights into France’s evolving power mix, why electricity prices there have largely decoupled from gas, and how Europe is navigating the pressures of global gas supply shocks.

Richard and Emmanuelle also explore the growing debate around marginal pricing, the urgent need for grid investment and interconnectors, and the delicate challenge of scaling renewables without undermining market stability. From LNG dependency to nuclear resurgence and the politics of cross-border energy flows, this conversation offers clarity over the trade-offs shaping Europe’s energy system.

#EnergyTransition #FranceEnergy #EmmanuelleWargon #EuropeanEnergy #PowerMarkets #GasPrices #NuclearEnergy #Renewables #EnergySecurity #Interconnectors #ElectricityMarkets #GridInfrastructure #LNG #Decarbonisation

Host: Richard Sverrisson, Editor-in-Chief, Montel News

Guest: Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 

Editor: Alexandra Carlon

Producer: Alexandra Carlon & Caroline Pailliez

Transcript

Welcome To Plugged In

Richard Sverrisson, Editor-in-Chief, Montel News 0:07

Hello listeners and welcome to Plugged In, the Energy News podcast from Montel, where we bring the latest news, issues, and changes happening in the energy sector. I'm studying the heart of Paris. I may be 4,000 kilometres from Iran, but events in the Gulf are shaping France's and Europe's energy future. Just around the corner are the officers of CRE, France's energy watchdog. I'll be speaking to their president, who is also the chair of ACER Board of Regulators. We'll be diving into the big questions facing France and Europe. The impact of the Gulf War, the role of interconnectors in France's power system, the marginal pricing system. Why is it under threat? And how can you deploy more renewables but maintain their profitability? So, how will Europe balance affordability with energy security? I'm delighted to say that I'm joined by Emmanuelle Wargon, who is president of the French Regulator CRE, but also the chair of the Board of Regulators at ACER. So a warm welcome to you, Emmanuelle.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 1:17

Thanks for your invitation.

France’s Wholesale Market Shifts

Richard Sverrisson, Editor-in-Chief, Montel News 1:18

Perfect. I I'd like to start by talking about the French wholesale energy market as a whole. How would you evaluate the the current state of the market? I'm thinking, is it growing? Is it is it expanding in terms of renewables? Are there lots of market participants? How would you evaluate?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 1:36

Well, we are a very strong nuclear market, as you know, because the nuclear is still a very significant part of our production in the French market, but we also are growing the renewables in absolute value, and so and they are taking shares of the market. And then if we are talking about wholesale markets, I mean how the liquidity of the market is functioning, the market was a bit different from other European markets because of the previous system regarding the nuclear energy called RN, because this system took a lot of amounts of nuclear electricity produced by EDF outside of the market. Now that the system stopped last January the 1st, there is a lot more liquidity in the market for maturities for one year, one year ahead, two years ahead, three years ahead. We are getting a bit of liquidity also four years ahead. So I think this market is maturing and developing a lot.

Gulf War Risks For Energy

Richard Sverrisson, Editor-in-Chief, Montel News 2:39

That's very interesting. Maybe we'll turn to RN later or what happens post-RN. But obviously, one of the major concerns or one of the major incidents, events, if you like, geopolitically is what's happening in the Gulf and the war in Iran. So I think what are your main concerns here? I mean, if you have your your French regulator cap on now, Emmanuelle.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 3:00

I would say that we are very different in gas and in electricity from the Gulf crisis perspective. In gas, we are as everybody in Europe, actually as everybody in the world, we have perturbation in supply chains. We're not too worried for now for security of supply because there is still a lot of gas going on and LNG around the world. We are looking carefully at prices, of course. The price of gas on the French market, just as the TTF, which is the reference market in the Netherlands, of course, price rose from before crisis to now. Before crisis, it was around 30 euros per megawatt hour. It rose to 60. It's back to 40 to 45 nowadays, but it's still very uncertain. So we are all very much looking at the prices. We are working on the filling of the storages, but they have all been commercialized and contractualized, the French storages. Of course we are looking carefully, but as far as security of supply is concerned, we are still relatively confident that everything will be that the supplies will be full by the end of summer, beginning of next winter. In electricity, we have a more favorable situation than some of our colleagues in Europe because as we were mentioning, we have a lot of nuclear production in electricity, and we also have renewables, so we have an excess of production compared to demand in France. So we are exporting massively, exporting 90 terawattes per hour per year. So we are the first exporter and by far. And one of the consequences is that we are never marginal to gas on the prices, meaning that the prices of electricity did not really raise after the crisis, and our electricity price for next year calendar is around 50 euros. 55 euros now, 55.56. It was 50 before crisis, so it's still in the same area, and it's a lot lower than Germany, Italy, UK, who is not in EU anymore, but still a strong partner. So we are competitive on the French market for electricity. So the crisis is not expanding from gas to electricity on the French market.

LNG Flows And Storage Confidence

Richard Sverrisson, Editor-in-Chief, Montel News 5:35

I think, and obviously a lot of that and and what happens from after the summer into the autumn, the winter, The Strait of Hormuz, if that's gonna open up and if there's shipping and global climate strength. I'm afraid I don't have that crystal ball, Emmanuelle. But I'd also like to, you should you raised as well, I'd like to ask you about LNG imports and gas storage levels. what what gives you confidence, you know, that that the gas storage in France, maybe also in neighboring markets, will fill to the level that's required to coming into the winter?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 6:12

Well, we haven't we had a major change in the way we get our supplies in gas in Europe ever since the Ukrainian crisis and war. As you know, in Europe we were relying massively on Russian gas, and we were relying on gas coming through our pipes. Russian gas is getting out of our supplies progressively, and so we rely a lot more on LNG. This is really a big difference. LNG wasn't a minority in our supplies before the the war between Ukraine and Russia, and now LNG is a majority of our supplies. And we rely on LNG, on various sellers, but mainly the US, who are also very large sellers of LNG all around the world. What makes us confident is that there is still a lot of LNG flowing. As you know, there are a lot of capacities which are opening in the US, liquefaction capacities. So the gas company were expecting to be to have a very strong supply of gas in the next few years of NG. Now it's going to be a little more tense because we are losing capacities in Qatar, but yet we still think capacities are enough. And then the demand in Asia is lowering a bit because the prices are getting up. So if we have a moderation of demand in Asia, it would help also uh Europe to fill the supplies. We still have gas from pipes, we have gas from Norway, we have gas from Algeria, so we have a kind of diversified you know supply. And the companies who already bought capacity in the storage committed to fill the capacities, and for now, no company told anyone that we would not be able to fulfil their commitment, and there are heavy penalties if they don't.

Marginal Pricing Debate In Europe

Richard Sverrisson, Editor-in-Chief, Montel News 8:19

No, that's a very important point, I think. And I think it's clear as well that France is in a much better place than maybe some other European countries in terms of the gas supply. Some rely on Qatari supply. And the other aspect is of course the power production mix in France, and that France is now basically or has been for many years, Europe's exporting powerhouse for electricity. So, in that sense, I think it's a very favorable position for France, at least given the the international and global context. But my next question was would be about you know marginal pricing and the marginal pricing system anyway. It's come under a lot of criticism, or that's this sort it's in focus in certain countries, and you know, countries are reacting to the fact that the gas sets the price of electricity in the wholesale market. What's the situation in France? Is it coming under the same levels of scrutiny or even criticism?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 9:17

Yes, this is a very sensitive topic also in the French opinion and in the French debate. Then when we had the Ukrainian crisis and all the prices raised in Europe, including the fact that we had a problem on the nuclear facilities in France, so we had less nuclear electricity. So that was also really the reason why prices went up. The market design went under a lot of scrutiny and discussion at European level. Can we change it? Should we change it? What would be the best way to change it, to change it for what, and so on and so forth. And the discussion happened during two whole years, two or the whole year of 2022 and 2023. Finally, the result of all that, the system is strong and robust and reliable, so there is no reason to change it, but we need to find the right balance between the short-term contracts and the long-term contracts, and I think it's a good answer. So the system of marginal price helps everybody to have the low possible price of electricity at a specific moment. The system of marginal price doesn't always mean that the price of electricity on your market depends on gas. And as I was mentioning, in France, for at least one year, the price of electricity is very much disconnected from the price of gas. And when gas is multiplied by two on the wholesale market everywhere in Europe, electricity in France goes plus 10%. There is no correlation anymore on the French market. So you rely on the last plant available. And in markets in which you have a lot of nuclear renewables, hydro, you don't rely on gas. If you look at Scandinavia and Nordic countries, the north price zones, the prices are around 30 euros per megawatt hour, and they don't rely on gas at all. What is true is that from a European perspective, there are huge differences of prices from one price zone to the other, and especially in the southeast of Europe, the prices are very high. So there is a sensitivity there, the prices are connected to gas or even to coal for some countries. And it also means that there are still needs for investments in renewables or nuclear or hydro to disconnect the prices in these places from the gas marginality. Then you get quite naturally to interconnections and grid package, which might be a question at one point.

Richard Sverrisson, Editor-in-Chief, Montel News 12:15

I think it's my next one, but yeah, one rather second from next.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 12:19

Because when you have very strong differences of prices from one side of Europe to the other, of course there is a reason to think that if you get more interconnection, you have more electricity flowing from one place to the other. So you relieve the burden in the countries where the prices are really high. But interconnections are not going to do the whole job. Part of the job is going also to be done on the production mix, because the more production you have and the more production you have, which is not linked to fossil, gas or whatever, the less connection you have in marginal prices on the gas market.

Richard Sverrisson, Editor-in-Chief, Montel News 13:03

Absolutely, and I think it's crucial here both, we'll come to that later, hopefully, but I want to talk about maybe have your ACER hat on now and talk about the disconnect between Southeastern Europe and Western Europe. That's come under a lot of scrutiny and criticism, especially from those countries who see prices much, much higher than say, so gas or even electricity than they see in Western Europe. Do you expect that kind of feeling to accelerate? I mean, in terms of accelerate potentially the power mix in those countries or also the interconnection there?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 13:35

I think it's both. I think it raised a lot of interest for nuclear, for instance, and there is this alliance for nuclear, which is now connecting 10 or 15 uh European countries, and you have also power plants companies who are thinking again about investing in nuclear. So I think all the repetition of crises, they show the need to have a mix. The good news is when you go for nuclear or hydro or renewable, you go both for sovereignty, less gas marginal price, and decarbonation. And now it's all about sovereignty and prices, but it still helps us on the path of decarbonation. So a lot of countries are looking into nuclear and hydro a lot more than previously, and there are still a big plan to develop renewables. I think for these countries, the answer is both developing the mix the way they can, and finding the right path towards more interconnections so that the cheap electricity which can be produced from offshore wind or from nuclear or for solar, whatever, in various places of Europe can get up to these countries, and now they are still bottom necks, and so the electricity is not completely flowing because it's limited by interconnection. So I think it's both. One or the other is not going to make it. Interconnections are bringing common value to Europe. Acer evaluated the value of the internal market, the big coupling market, and interconnection to around 34 billion euros, it was three years ago. So this is an idea of what it brings to the market. So interconnections and connections of market bring value. But you when you have high prices, it's because your demand is in excess of your supply. So we also need to have more supply.

Keeping Industry Competitive On Power

Richard Sverrisson, Editor-in-Chief, Montel News 15:45

I think that's crucial, absolutely. Before I get on to maybe more detailed into the grid package and interconnectors, Emmanuelle, I'd just like to touch on, you know, in some areas where you highlighted that France's wholesale prices is a lot lower than its neighbors for the reasons that you mentioned, the nuclear capacity, renewables, etc. and but some countries, among them France's neighbors, are looking to ways to shield industry from such high costs, high electricity prices, even. What what's the situation in France? Is that a debate? Is that a discussion?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 16:24

Well, price of energy or price of electricity is really in the debate in France, of course. Competitiveness, purchasing power is of course in the debate. For now, in the debate, it's also a lot the prices of gas, of petrol, and in for thought of cars and u diesel or whatever, so which is not under our competence, okay. But so the discussion is about that. But of course, there is high sensitivity to electricity and gas, both for households and for companies. In France now, for companies, the prices went back to a level which is more or less acceptable. But the question is more about the uncertainty, how are the markets going to unfold? How sure can we be that electricity will stay competitive? And of course, in other countries, in other parts of Europe, competitiveness outside out of electricity is a big topic. And Commission is looking at new rules to make sure that countries can protect their industry as keeping a level playing field. So this is basically the the big question for the commission. Absolutely. In France, we have a few tools helping electro-intensive industries, especially for network tariffs, and the system is more or less working.

Richard Sverrisson, Editor-in-Chief, Montel News 17:49

Because if Europe loses its big industry, you know, that's also bad for electricity demand, it's for bad for employment, it's bad for, that's a disaster. And hopefully this crisis in the Gulf won't lead to you know the decimation or another massive energy price crisis for industry. We're already seeing in Germany, for example, you know, above after companies are planning or thinking about leaving, you know.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 18:13

So absolutely it's crucial, but but we keep industry in Europe. And this is a European battle altogether. So that's absolutely crucial. So we need to have competitiveness on energy and on the rest.

Grids Congestion And The EU Package

Richard Sverrisson, Editor-in-Chief, Montel News 18:26

Absolutely. And I'd like to touch on on grids and congestion, if I may, Emmanuelle. I think you know, congestion is often cited as a sort of major obstacle in the deployment of renewables because if you have, if you're forced to curtail, for example, or cannibalization when you there's too much available, and that's investors are getting could potentially get scared off. Is the grid, the EU's grid package, will that solve these issues? Or there's more needed to be done.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 19:02

I think that nowadays everybody understands that energy is a lot about grids and not only about production and generation and it's kind of new because for long times before the whole discussion was about generation. Now we know that generation is completely interlinked with grids, so grids are crucial. Grids are crucial at national level first, because the connection to from a renewable facility to the grid is at local national level. So all countries, and I can tell you with my ASER hat, all regulators, we are working with uh TSOs to validate investment plans in the best way possible, looking for cost efficiency, of course. NRAs, national regulation authorities, are responsible for tariffs of networks. And in the tariffs, we make sure that the consumer is going to pay for the right quality of service and efficiency today, tomorrow, the day after tomorrow, and in five years and in ten years. I mean, preparing the future because you can lower the tariffs now if you cut investments, but if you cut investment at one point, somebody will have to pay for the underinvestment which has been done and is going to be worse. So we have to protect consumers, not only consumers today, but consumers over time. And it's really the core mission of regulators. On this, the grid package can bring value on permitting, for instance, because a lot of the cost of project is also the timeline of projects, both for renewables and for grids. In France, for instance, we are working on the new high voltage grid for the harbour of Marseille and there is a lot of permitting, the process is long, it's also necessary to discuss with the people, of course. But if we can frame the delays a bit tighter, it could come quicker, it would be less expensive, and it will be more efficient. So the grid package is also addressing national topics, and grids are national at first. Then grid package is also addressing global vision of the needs of grids at European level with a lot of tools that have been put on the table. How we build scenarios uh that will support afterwards subsidies to priority projects, and what how do we use money coming from congestion revenues, congestion revenues? On this, as an ACER chair of board, so after discussion with my colleagues, we welcome the fact that there is a strong Attention to grids because we share this idea. We have a few reservations on some tools, not all, but some. One being only one central scenario guiding after decision on investment, on priority projects and on interconnections. Because in each country with our TSOs, we are working on various scenarios. We have to work on an ambitious scenario of decarbonization, quick electrification, a strong demand. And then we have to work on scenarios on which delays are longer, things are not going the way we want. So what's going on and how do we adapt? And we are navigating between scenarios. So at European level, we would like to have more than one scenario. And then for congestion revenues and the interconnection and interconnector revenues, the discussion put on the table is to ask if part of these revenues can be put in a common part and used outside of the countries in which the revenues were generated. The discussion is still ongoing. There has been the third version of the text put on the table by the council. The parliament is working on it, so it's not the end of the story. As regulators, we say that these revenues have been paid by the consumers because the consumers paid for the investment. So that it's a big step to say that when you fix tariffs, you put the cost on the consumer of the country where the NRA has authority, but the revenues are shared in a different way. So it's a significant step of European integration. So we have a lot of questions around this. But some regulators think it's a good idea because it could accelerate the interconnection we need. Some other regulators are a bit more reluctant. And so we're still working on it. So there is a variety of points of view at European level, of course, depending on the situation.

Spain Links And Interconnector Politics

Richard Sverrisson, Editor-in-Chief, Montel News 24:13

Yeah, and I think it's been quite controversial in some areas, or been so some politicians certainly in the Nordics have been very criticized very publicly and openly. But let's see if we can move back to France again. And I want to talk a little bit about the interconnection, interconnector with Spain, and that as being planned, because, you know, Spain is a bit of an island. Now I know that, you know, in some countries, certainly in the Nordics, there's a there's a growing, you know, the pendulum seems to be swinging politically against interconnectors, or certainly like where I live in Norway, you know, the it's become quite political. People feel that, the power links increase prices in their home market. They often forget the fact that when reservoirs are low and when they need the power, their neighbors can help. But what's the situation in France? What's the feeling here? Is it positive towards more connection, especially I'm thinking with Spain? Or what's the situation?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 25:15

Well, I think it's less political in France than maybe in Norway or in some Nordic countries. It's not completely in the public debate. But when it comes to debate, you have strong advocates and strong opponents to interconnections on the arguments you make. Interconnections tend to equalize prices between zones. So when your prices is lower than the neighbor, of course, if you export more, the prices will adjust on the two sides of the border. So it will raise a little bit on your side and lower a little bit on the other side. Yet interconnectors are what guarantee security of supply. And as I was mentioning this Acer study, it brings a lot of value for the European zone as a whole. That's for sure. So we have to be in between these two points of view. The global idea, I mean, as my global idea is that interconnectors are needed, and it's a good news, and we are still developing some interconnectors. We are actually building one with Ireland called Celtic, and it could be of use in one year or two, so it's kind of maturing. We are also developing one with Spain currently, Gulf of Biscay.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 26:40

The status there? Well, I mean, the thing is ongoing, we don't have any difficulty. I mean, it had been very difficult at the beginning for the mapping of the routes and so on, but now it's is developing quite under control. So we are still building new interconnectors in France, including one with Spain. So Spain is asking for the next ones through Pyrenees. We understand that it's necessary for Spain to get to be more interconnected, and that of course, geographically we are in between Spain and the rest of Europe. So we are very willing to consider it. We have to consider the cost of the project as a whole, because we would probably be a transit country for the extra electricity coming from Spain, which could benefit to the rest of Europe. But it means that our internal systems need to be able to bring electricity from the Spanish frontier to the German frontier. And it's a bit of a, you know, hundreds of kilometers. So what we are saying, and the project needs to have the part which is the real interconnector or interconnectors, but the project needs to include all the work that need to be done on the French grid to make sure that the electricity can go up to the places where it's needed. So, of course, it's expensive, so we have to continue to work both on the cost and the planning to make sure that we can move forward.

Richard Sverrisson, Editor-in-Chief, Montel News 28:14

Absolutely. That's good, that's good to hear. I think, you know, I there is talk about that potentially the interconnector could have helped out in an Iberian blackout.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 28:25

Well, that's not exactly what the NC report says. Okay we have the NC report now. It was made public I think one month ago, or one month or so. And interconnector is not a factor that explains the way the the vicious circle you know got out of control. Interconnectors help from the Black Start, help to give back electricity, both from France and also from Marocco. But interconnectors, existence or non-existence of interconnectors are not the cause of the Spanish or Iberic incident.

Funding Renewables Without Value Collapse

Richard Sverrisson, Editor-in-Chief, Montel News 29:09

Yeah, that was made very clear by Answerisa. Thank you for that very very excellent summary there, Emmanuelle. I like to now also talk a little bit about the financing of the energy transition and how obviously the ambition is there both for France and at the European level. Um, how is it best, you know, achieved so that you boost renewable growth, but you also avoid, you know, I call them, you know, we talk about curtailment, but all the other two C's that I talk about are cannibalization or curtailment. So how how is the best system to do that?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 29:41

Well, I think this is the really the key question on the functioning of an electric system nowadays. We have to find just the right balance between the exact amount of power generation available compared to demand and how you develop it over time. In France, right now we have a little bit too much of electricity, so probably it is costly for the system because we subsidize part of it and we also have to curtail part of it, and the system needs to accept it, so it has costs, it has a major a major effect, which is lower prices. So there are costs of system which are probably increasing a bit, and what you get from this cost of system is a price of electricity which is moderate and completely disconnected from gas. There will there would be a point in which we would have too much curtailment, too much support to an electricity which is in surplus. So we don't want to reach this point, so we have to find the right way to add capacity looking at the evolution of demand. So the big question becomes how can we forecast evolution of demand and how can we foster more electricity demand in a time in which we need to get out of fossil anyway, both for climate reasons.

Richard Sverrisson, Editor-in-Chief, Montel News 31:24

It's a very tricky balancing act, isn't it?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 31:26

For climate reasons and for sovereignty reasons. So this balance is awfully difficult to strike because it deformates over time and because you need to have a bit of margin of insurance. I mean, in France we lost 25% of the production of the power of the nuclear power plants in 2022. Nuclear went from 360 terawatt hours of production to 270. We lost 100, almost 100 terawatt hours. It's huge. At that point, every solar panel, every you know, windmill was very much welcome. And it helped alleviate a little bit the tension between offer and demand. We all of course hope this thing will not happen again. It was a major incident, it was treated. But if we lose capacity for whatever reason, if we have a year in which we have zero water, so the hydro production is really low than usual because of a tension on the resource of water, well, we need margins. So the tricky question is the how much margins do we need? At one point the margin we have are becoming too costly, and how do we balance the system? I think it's a question everywhere, but in France, because we have the surplus, the question is put on the table a bit differently than in countries in which the the question is just to get as more as much renewable as possible because it's replacing costly electricity powered by gas or powered by coal. So we're working on these trajectories very precisely. And the the last programation of energy, which was published in the end a few months ago, said that there will be a rendezvous close every year to see where we are on the demand side, on the supply side, and how do we adjust. And we are working on a lot of technical measures to make sure that ART, the TSO, can balance the system, has all the tools it needs, and that the whole thing is kept under acceptable costs.

Pride, Competition, Fake News, Farewell

Richard Sverrisson, Editor-in-Chief, Montel News 33:43

I think we could talk about this for hours, Emmanuelle, but I'm aware that the time is running out and have to bring this to a close. I'd like to close off by asking maybe one or two personal questions about so if we get to 2030 and 2035 and you look back at your time as president, but what's something that would make you most proud?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 34:04

Finding a solution to this predicament and make sure that on this period we adjusted quite nicely demand and offer. Getting a more mature discussion in the French market about liberalization, competition, because it's a market in which it's a still very public market. And so the idea that competition is good, it's still something which needs to be fostered. And making consumers aware of the way they can buy electricity and gas, and so making them more actors of their own choices, that would be that would be nice.

Richard Sverrisson, Editor-in-Chief, Montel News 34:46

Perfect. And what are the challenges that lie ahead then in terms of meeting those, or more generally for the for the French market?

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 34:52

One of the challenges is really fighting fake news and making sure that the debate on energy is based on reality. I mean, there can be a lot of points of view. What do we want in electricity, in gas, in energy mix. And nobody has to agree with each other. There are very legitimate, various points of views. But sometimes there are just basic fake news circulating. And if we could have the debate laid on reality and not laid on fake news, that would be, I think, a good news.

Richard Sverrisson, Editor-in-Chief, Montel News 35:32

Absolutely. That's where Montel News comes in annual with facts and our reporting. Exactly. Emmanuelle Wargon, thank you very much for being a guest on the Plugged In Podcast.

Emmanuelle Wargon, President of CRE and Chair of ACER's Board of Regulators 35:41

Thank you.

Richard Sverrisson, Editor-in-Chief, Montel News 35:42

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