- Title: France caps power prices increase at 15% next year to shield consumers
- Date: 14th September 2022
- Summary: PARIS, FRANCE (RECENT - SEPTEMBER 2022) (REUTERS) VARIOUS OF LIGHTS IN SHOPS
- Embargoed: 28th September 2022 16:49
- Keywords: France energy
- Location: VARIOUS LOCATIONS, FRANCE
- City: VARIOUS LOCATIONS, FRANCE
- Country: France
- Topics: Europe,Government/Politics
- Reuters ID: LVA003534714092022RP1
- Aspect Ratio: 16:9
- Story Text: Power and gas price increases for French households will be capped at 15% next year, Prime Minister Elisabeth Borne said on Wednesday (September 14), as governments across Europe look to tackle prices that have soared after Russia's invasion of Ukraine.
Borne said the new price cap increase for gas would take effect from January, while the cap increase on electricity would follow a month later.
President Emmanuel Macron's government has spent billions of euros on measures to dampen the inflationary impact of surging energy prices in the market, including a rebate on fuel pump tariffs.
The 2023 caps mean that households with gas heating will on average pay 25 euros more every month instead of an extra 200 euros where there is no cap. The average household with electricity heating will see power bills increase by 20 euros a month, the prime minister added.
France, home to the world's biggest fleet of nuclear reactors after the United States, is less exposed than its European neighbours to a cut in Russian gas supplies in retaliation for Western sanctions. But an unprecedented number of reactor outages have driven French nuclear power output to a 30-year low just as Europe scrambles to find an alternative to Russian supplies, adding to the continent-wide energy crunch.
(Production: Yiming Woo, Antony Paone, Lucien Libert) - Copyright Holder: REUTERS
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