France Unveils New Steps to Cap Power Bills Ahead of April Election
- Government proposes that tariff hikes be spread over time
- Move comes amid an ‘exceptional backdrop of price increases’
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France unveiled fresh measures to cap an increase in household electricity costs in a bid to appeal to voters facing soaring bills ahead of April’s presidential election.
The government filed amendments to the 2022 draft budget, proposing that tariff hikes be spread over time rather than thrusted on consumers in February as planned, Budget Minister Olivier Dussopt said Friday. Bills will rise by no more than 4% next year -- as flagged back in October -- and small suppliers will get a cash advance to tide them over, he said.