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Price cap to ease energy bills for Monegasque households and businesses

pierre-dartout(1)
Archives / Communication Department

The increase in electricity prices for households and small businesses will be 15%, instead of the 75% originally envisaged. 

On Wednesday 16th November, Pierre Dartout unveiled a broad outline of the Government’s energy policy to safeguard residents’ purchasing power and competitiveness of companies in the Principality. “Monaco will not be able to avoid the crisis,” said the Minister of State, who pointed out that Monaco depends on its French neighbour for its electricity.

30 million euros via the price cap

Like France at the end of 2021, the Prince’s Government has decided to introduce a price cap to help households and businesses cope with the rising cost of electricity.

  • For individuals and small businesses (blue rate): the price of electricity will increase by 15%. Without government action, the increase would be 75%.
  • For medium-sized companies (yellow rate): electricity prices will increase by 35% instead of 65%.
  • For large companies (green rate): power will go up by 45% instead of 90%. This category includes the SBM, the CHPG and the public administration.

The scheme will come into force on 1 January 2023 and will be maintained throughout the year. It will cost the Monegasque State around 30 million euros.

Why wait until 2023? “We did not need to introduce a price cap in 2022 because our supplies had been purchased before the price hike,” explained Céline Caron-Dagioni, Minister of Public Works, the Environment and Urban Development.

And why not apply the 15% rise to everyone? “Firstly, because it would have been too expensive, and secondly, to encourage energy savings,” replied the Minister of State.

19°C maximum in public buildings

The Government is leading by example. It has chosen to apply binding measures in the public sector and incentives in the private sector. In public buildings, for example, the rule will be to heat to a maximum of 19°C. However, the Executive stated that a tolerance of +2°C will be granted in schools, old people’s homes and in the CHPG.

There is a collective effort to be made, we are all concerned.

Pierre Dartout, Minister of State

Another change is that lights in bus shelters and public buildings will be switched off at 10 pm.

6 key recommendations for the private sector

As for the private sector, the Government is pinning its hopes on trust. After consulting professionals from major business sectors such as the FEDEM (Federation of Monegasque Enterprises), UCAM (Union of Traders and Craftsmen of Monaco) and the Grimaldi Forum, here are the 6 main recommendations:

  • Do not heat/cool outdoor areas to excess, and set heating to a maximum of 19°C (with a tolerance of +2°C).
  • For shops, illuminated signs and shop windows should be switched off from 11 p.m.
  • Turn off lighting, heating and air conditioning in unoccupied spaces in shops, offices or at home. Also avoid using portable heaters.
  • Turn off devices that are on standby, such as computers (standby accounts for 10% of household electricity consumption).
  • Favour soft mobility (walking, cycling, public transport).
  • Buy energy-efficient equipment (the Government is reintroducing subsidies for A-rated purchases).

A communication campaign will be launched later this week with the aim of making these measures appealing,


What about Christmas?

Disappointing news for many: there won’t be an ice rink in Monaco this year. Considered “too energy-consuming”  it will be replaced by a roller skating area. Similarly, SBM will have to give up on its “ice path”, and is planning a roller skating track around the Casino instead. But lovers of Christmas can rest assured that the illuminations will go ahead, even though half of the lighting will be switched off after 11 pm. The Casino façade will be lit up on the evenings of 24 and 31 December, but only until 2am.