France will also introduce a cap on electricity next year to protect families from rising energy costs. French Finance Minister Bruno Le Maire made the promise during a radio interview on Saturday.
According to Le Maire, consumers will not be required to pay the difference between market prices and price ceilings. According to him, the prices will also remain within the next year. The French government has set an increase in energy prices to 4 percent until the end of this year.
All of Europe suffers from high energy prices. In the UK, the cost cap has previously been raised significantly. Ministers of European Union member states are meeting urgently to find ways out of the energy crisis.
Energy prices in Europe’s largest markets, France and Germany, rose by more than a quarter on Friday. The price increases are attributed to the decline in nuclear electricity production in France and Russia’s restriction of natural gas supplies.
The French government is also considering introducing a system for households and small businesses this winter that offers them preferential electricity rates in return for limiting use during periods of high demand. This could be, for example, on very cold days.
This system has been used for many years by major energy consumers in the industry. They agree to reduce their output when the power supply is tight.
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