Look I don't know, don't have the details yet. But the example that comes to my mind is National Grid, recently the company exposed an investment project plan and went to the market to fund the project, shareholders of the company were asked to subscribe what will be improvements and new projects to better serve the company's customers and that's exactly how it should be.

If later on once the projects are up and running, the improved service and new projects are a better value for customers, the company may enter talks with the regulator.

But it is not what's happening with the french retail energy businesses, should the companies need capital to fund new projects or maintenance, they raise the retail consumer's prices sometime in advance.... and don't bother going to the market. To me it is just incredible, those guys have "ideas" to regulate any industry.