French households ‘will not be affected’ by soaring electricity prices – POLITICO

France will maintain a cap on electricity prices until the end of the year to protect households, French Economy Minister Bruno Le Maire said on Saturday.

The cap will be removed at the end of 2022, but the prices of electricity and gas will be “contained” next year, Le Maire said on the sidelines of a meeting in Metz, eastern France.

“French households will not be affected by this rise in electricity prices,” promised the Minister of the Economy.

The government has limited the price increase to 4%, and this “will be maintained until the end of 2022”, he said.

The Mayor also said that energy vouchers will also be introduced to help the poorest households.

The Mayor warned that soaring energy prices cannot be absorbed by public finances indefinitely. “That does not mean that we can block everything ad vitam aeternam,” he said.

Le Maire’s remarks come as electricity prices hit historic highs this week, largely due to Russia’s war on Ukraine. Prices in Germany and France to have broken recordswhile UK households brace for price hikes of over 80%.

Soaring prices in Europe prompted the Czech EU Presidency to convene an extraordinary energy council to discuss emergency measures to deal with the situation.