July marks the start of the summer holidays for students and the start of vacations for some employees, but it also brings its share of changes in your daily life. On the agenda: an increase in the price of gas, a new savings opportunity for the youngest, but also better display of price increases in supermarkets. Here is the list of changes.
Gas prices rise again
The benchmark gas price will increase by 11.7% on July 1 compared to June, with an average level of 129.20 euros/MWh including tax. According to the Ministry of Economy, “this change is mainly the result of the application of the new tariff for natural gas distribution networks and the increase in wholesale natural gas prices.”
As a result of this development, the average annual household bill according to the Energy Regulatory Commission (CRE) should increase from 1,060 euros to 1,184 euros. “The benchmark price is given for information purposes only,” Emmanuelle Wargon, president of the CRE, reminded Le Parisien in June. “Suppliers have complete freedom to set their offers as they see fit. And in particular, the way in which they want to pass on the upcoming increase.”
Some of them may decide not to take this into account, agreeing to cut their margins in order to be more competitive. Others will do so, but favoring an increase in the subscription portion.
For the youngest, a new savings plan
An alternative to the youth booklet. This July 1 marks the launch of the future climate savings plan, a product intended only for under 21s. The payments must be used “to finance projects linked to the ecological transition”.
The ceiling for this plan is set at a maximum of 22,950 euros, as for the livret A. It is possible to open it as soon as the child is born and the money is blocked until the child reaches the age of majority. The rate of remuneration is not set by the State, unlike other savings plans or the livret jeune, intended for those under 25. It depends on the investments made (and potentially at risk) by the owner of the plan.
New law to inform about “shrinkflation”
Large supermarkets are now required to display price increases for products whose quantities have been reduced. This measure aims to protect consumers from “shrinkflation”, a process which consists of reducing the size of a product while maintaining the same price, or even increasing it.
For example, selling a 1.75 L bottle at the same price when it was previously 2 litres. The consumer therefore pays more for his product for a smaller quantity.
The DPE is changing for small areas
This change should allow 140,000 housing units to exit the “energy sieve” category. From this Monday, homes with a surface area of 40m² or less will benefit from a new method of calculating their energy performance diagnosis (DPE).
Calculations carried out “between July 1, 2021 and July 1, 2024 on housing of this size may be the subject of a document which attests to the new DPE label”, underlines the Ministry of Economy and Finance.
For some, a transfer of upcoming taxes
As has been the case every year since the introduction of withholding tax, taxpayers who have been deducted a larger amount than they owe to the public purse will be reimbursed. This will take place at the end of the month, on 24 or 31 July.
If you have paid more than necessary via withholding tax, you already have an estimate of this refund made at the end of your income tax return in the spring. Your tax notice will confirm the final amount that will be returned to you.
Opening of the income tax return correction service
If you notice an error in your tax notice, once you receive it, don’t panic. The tax return correction service opens on July 31, it will be open until December 4 and will allow you to report the update you want.
