France Steps In to Contain Energy Prices Amid Backlash Fears
- Surging gas, power could disrupt French election next April
- Industry minister says no plan to tax EDF’s windfall profits
Photographer: Giovanni del Brenna/Bloomberg
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The French government will block any new increase in regulated natural gas tariffs for households and cut taxes on electricity to temper discontent as prices surge in the run-up to a presidential election.
“We’re going to introduce what I would call a tariff shield for gas and electricity,” Prime Minister Jean Castex said on the TF1 television station Thursday evening, days after announcing 580 million euros ($672 million) in special subsidies to help poor households with soaring energy bills.