Because of the skyrocketing gas and electricity prices, France also wants to cap rates next year. This is what Economy Minister Bruno Le Maire said in the northern French city of Metz.
Le Maire indicated that electricity prices may rise by a maximum of four percent by the end of this year. He said the government would not make any changes to that policy next year and would not allow it to “catch up”. According to the minister, gas price increases will remain under control.
Wholesale electricity prices peaked at more than 1,000 euros per megawatt-hour on Friday, a record for France. A year ago, they were still 85 euros per megawatt-hour. Gas prices also remain at record levels, at €300 per megawatt-hour.
French Prime Minister Elisabeth Borne also stressed in an interview with the newspaper “Le Parisien” that Paris “will not allow energy prices to explode.” “The French can rest assured, and we will accommodate the increases,” she said.
By the way, Borne did not close the door to taxing the super profits that some companies currently make. “No one will understand that companies are making extraordinary profits while the French are concerned about their purchasing power,” the prime minister said. It favors companies that can “reduce prices to consumers and give purchasing power to their employees”.
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