September 15, 2022
1 min read

France to cap energy price hikes at 15% in 2023

At a press conference after a Council of Ministers’ meeting, she added that the country’s gas storage facilities were 95 per cent full in preparation for possible shortages this winter…reports Asian Lite News

Energy price hike for households in France will be capped at 15 per cent next year, Prime Minister Elisabeth Borne said in French capital Paris. The tariff shield for gas will come into effect in January and for electricity in February.

According to Borne, the measure will help French households save “around 160 euros ($160) per month of savings for electricity and 175 euros per month for gas”.

At a press conference after a Council of Ministers’ meeting, she added that the country’s gas storage facilities were 95 per cent full in preparation for possible shortages this winter.

“In the most likely scenarios, if everyone takes responsibility, there will be no energy cuts,” she said, adding that “only sobriety and European solidarity will allow us to avoid cuts”.

Recalling the 230-million-euro financial aid package for households that was adopted by the country’s parliament in July, Borne said that “We have taken strong measures to protect the French”.

Economy and Finance Minister Bruno Le Maire said that, compared to other European countries, France has anticipated the increase in energy prices with the energy tariff shield and as consequence it now has the lowest inflation rate in the European Union (EU).

He noted that his country will continue working with the European Commission for European solidarity.

Le Maire said that the energy tariff shield was “essential” to avoid “adding an economic crisis to an energetic crisis”.

Calling for individual and collective efforts, Minister for Energy Transition, Agnes Pannier-Runacher said that a new EcoWatt website, to be launched on September 22, will enable the people to track the country’s electricity consumption in real time and to receive relevant alerts.

ALSO READ-France preparing disused pipeline to supply gas to Germany

Previous Story

5G: IBM, Airtel team up to power Indian enterprises

Next Story

India, France to set up Indo-Pacific trilateral cooperation

Latest from Europe

India-EU Trade Talks Resume

The proposed India-EU FTA covers 23 policy areas, or chapters, of which at least two – market access and rules of origin – have yet to be resolved….reports Asian Lite News India

Multi-alignment, upgraded

With US ties strained and China tense, New Delhi taps Europe’s harder edge for co-development, clean tech and strategic autonomy, writes Manoj Menon India is recalibrating its great-power hedging as frictions with

Finland Backs India’s UNSC Push at UN

Finland backs reform call at UNGA, echoing India’s push for UNSC seat and wider global governance overhaul…reports Asian Lite News Finland and India have found common ground on the future of global

Goyal lauds TEPA coming into force

India seals landmark EFTA trade deal, unlocking $100bn investment and one million jobs…reports Asian Lite News India’s long-awaited Trade and Economic Partnership Agreement (TEPA) with the European Free Trade Association (EFTA) officially

Putin Likely to Visit India on Dec 5-6

Putin’s December visit set to test India’s balancing act between Moscow and Washington Russian President Vladimir Putin is expected to visit India on 5–6 December for a summit with Prime Minister Narendra
Go toTop

Don't Miss

NATO chief warns against dividing US and Europe  

France has traditionally seen itself as a counterweight to U.S.

Russia is now world’s most sanctioned country

After Russia announced its military operations against Russia on February