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English Español France: Total to expand in retail power and gas market

The French energy group has about 150,000 retail energy customers a month in France and is on course to hit its 2022 target ahead of schedule, company executives say.



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Author: PetrolPlaza Correspondent Pablo Plaza

Oil major Total plans to improve its revenue streams with expansion in retail power and gas market. With the energy market demand shifting from fossil fuels to low-carbon energy, Total is planning to invest $1.5bn - $2bn a year on low-carbon electricity.

The head of Total’s power and gas business in Europe, CEO Patrick Pouyanne and Xavier Caitucoli, has told journalist that the company will achieve its target of 7-million clients in France and Belgium (15% of the market share) ahead of its 2022 deadline.

CEO Pouyanne announced that Total plans to launch an ambitious business promotion across its fuel retail network to attract new customers by offering 1 euro cent for every litre of petrol acquired at any of its French fuel station to the first million clients signing up for its residential electricity offer starting on 1 June.

Total is today France’s third-largest retail power supplier, behind direct competitors and former monopolies EDF and Engie. Leclerc, Casino and Italy’s Eni complete the ranking, according to data from French energy market regulator CRE.

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