Technical note · September 2026

Energy rules for commercial property

A review of compliance, transactions and property value. Information as at 23 September 2026.

Information as at 23 September 2026. This note is general information, not legal advice.

Key dates

1 July 2026

OPERAT certificate displayed in the building and attached to new leases and sale deeds.

30 September 2026

Deadline for reporting 2025 consumption on OPERAT and filing a technical modulation dossier.

11 October 2026

First mandatory energy audit for entities at or above 2.75 GWh/year without an energy management system.

11 October 2027

Certified energy management system required above 23.6 GWh/year.

1 January 2030

First −40% tertiary target and BACS deadline for 70–290 kW installations.

2030

−40 %

2040

−50 %

2050

−60 %

1. The French tertiary decree and its targets

The Éco Énergie Tertiaire framework applies to buildings, parts of buildings and property complexes with at least 1,000 m² of tertiary activities. Owners and tenants share responsibility according to their lease. Final energy use must fall by 40% by 2030, 50% by 2040 and 60% by 2050, relative to a 2010–2019 reference year; an absolute target by activity is another route. Annual consumption is reported on ADEME’s OPERAT platform.

2. OPERAT: a portfolio view of energy performance

ADEME’s report published on 26 May 2026 counted approximately 340,000 reporting entities, with estimated coverage of 50–60% of the relevant stock. Climate-adjusted final consumption was 26% lower in 2024 than in the 2010–2019 reference period. Reliable declarations indicate that 51% of reporting entities had reached their 2030 target. These data help put each asset’s trajectory in context.

3. The OPERAT certificate in property transactions

Since 1 July 2026, the annual digital certificate showing the Éco Énergie Tertiaire rating must be accessible in the building and attached to new leases and sale deeds. For a disposal or letting, identify whether the asset is in scope, review its reporting history and explain any gaps in the data.

4. Energy audits for companies

The threshold now depends on the legal entity’s average annual final energy use over the previous three calendar years. At 2.75 GWh per year or above, a regulatory audit is required every four years unless an energy management system is in place; the first audit is due by 11 October 2026. At 23.6 GWh per year or above, a certified energy management system is due by 11 October 2027.

5. BACS: revised timetable

Building automation and control systems are relevant to tertiary buildings with heating or cooling installations above 70 kW, subject to statutory conditions and exemptions. The requirement has applied to existing buildings above 290 kW since 1 January 2025. For 70–290 kW installations, the deadline has moved from 2027 to 1 January 2030.

6. From compliance to property value

Energy rules do not cause a uniform discount on less efficient assets. Value depends on location, use, tenancy, works costs, adaptability and market demand. A valuation should set out regulatory position, future expenditure, potential vacancy or liquidity risk and how those factors enter market and rental value.

7. A 2026–2030 roadmap

Review 2025 OPERAT declarations and certificates in 2026, map energy trajectories and capital expenditure in 2026–2027, plan works and monitor actual performance in 2027–2029, then document the 2030 energy target and the BACS position.

8. The firm’s role

ARBITRAGE examines energy data alongside the asset’s market, use, tenants, works and liquidity. A property or portfolio review can help identify which assets to retain, improve, restructure or sell.

Regulatory and institutional sources

ADEME / OPERAT (26 May 2026); French Construction and Housing Code, Articles L.174-1, R.174-32 and R.175-2; French Energy Code, Article L.233-1 et seq.; Decrees 2025-1343 and 2025-1382; Directive (EU) 2025/2; ACPR Instruction 2026-I-12.

A property value to establish, a decision to inform, a sale to manage.

Discuss your property or portfolio with the firm.

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