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France Pledges to Shield Households From Soaring Power Prices

  • Finance Minister says consumers won’t have to make up for caps
  • Electricity prices have surged in Europe amid nuclear glitches
A hotel sign below residential buildings in Paris.

A hotel sign below residential buildings in Paris.

Photographer: Benjamin Girette/Bloomberg

France will maintain caps on power prices into next year in a bid to protect households from spiraling rates.

Prices will be “contained” in 2023 and consumers won’t be asked to pay the difference between increasing costs and current price limits, Finance Minister Bruno Le Maire was quoted as saying Saturday by France Info radio. The government has capped the increase in power prices at 4% through the end of the year.