Bruno Le Maire: Energy prices: There is no catch-up on electricity bills

In an interview with BFMTV, Bruno Le Maire, Minister of Economy Finance and Industrial and Economic Sovereignty, stated Monday that there would not be any tariff catch-up on the French electricity bill in 2023.

Bruno Le Maire: Energy prices: There is no catch-up on electricity bills

In an interview with BFMTV, Bruno Le Maire, Minister of Economy Finance and Industrial and Economic Sovereignty, stated Monday that there would not be any tariff catch-up on the French electricity bill in 2023.

"I want to make it very clear with our compatriots. The minister promised that there would be no catch up on their electricity bills. French consumers won't see any catch up due to the financing requirement linked to their bill for 2023. We have kept our promise and will keep it. Electricity prices will remain at 4% through 2022."

However, the rising trend in prices makes it necessary to have additional funding. Bruno Le Maire acknowledged this, but did not say what it might be.

The expected price increase for electricity in 2022 is around 10% at the beginning of the year. Prices on the market rose by 40% without the tariff shield. Bruno Le Maire, March's Minister of Energy, stated that "no country has so far protected its citizens."

The government decided to freeze regulated gas prices after a 12.6% increase on October 1, 2021. This measure was extended to market prices indexed to regulated tariffs. It covers a total 11 million households.

Since October 1, 2021, the tariff shield in France has been in effect. It stipulated that natural gas sales tariffs (TRVG), would not rise until April 2022. It was about "managing a bump" to the anticipated drop in gas prices in spring 2022 after the heating season. This was before Russia invaded Ukraine, which was a major energy supplier.

The tariff shield, which was imposed by the government last fall, has allowed it to be possible to limit the rise in energy prices in France and Europe.

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