Oil giant Total enters power business in France

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French oil giant Total has announced that it has entered the gas and power distribution business in France.

The company will offer gas and power supply to residential customers through a newly created unit named Total Spring. Total claims its new subsidiary will be able to offer prices that is 10% cheaper than regulated tariffs.

“Although the residential market was deregulated 10 years ago, French consumers haven’t really seen the effect on their bills. Today, Total is rolling out a unique offering in the French residential market: an affordable, reliable and simple solution. In 2011, we successfully introduced the Total Access service station concept. We’re aiming to repeat that success today with Total Spring, the most competitive natural gas and green power offering in the market. We hope that nearly three million French customers will place their trust in us and subscribe,” said the company’s CEO Patrick Pouyanné.

Total’s unit SunPower has so far provided solar modules with a combined capacity of 200 MW on the French solar market. In late May, the company said it secured contracts to supply 64 MW in the first round French tender for rooftop projects. This, SunPower specified, was around 31% of the solar panels required for the awarded solar projects.