Paris — The allowed increase of French power prices for households will be capped at 15said Prime Minister Elisabeth Borne, as governments across Europe look to tackle energy prices that have soared after Russia’s invasion of Ukraine.
Borne said the maximum 15% price cap increase for gas would take effect next January, while the 15% price cap increase on electricity would take effect in February.
“We are going to take action on both a European level and on a national level,” added Borne on Wednesday.
Governments across Europe have already ploughed hundreds of billions of euros into tax cuts, handouts and subsidies to tackle a crisis that is driving up inflation, forcing industries to shut production and hiking bills ahead of winter.
(Reporting by Tassilo Hummel; Editing by Sudip Kar-Gupta) – Reuters
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