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Economics

France Must Share €60B Jump in Energy Bill Fairly, Villeroy Says

Francois Villeroy de Galhau

Francois Villeroy de Galhau

Photographer: Fabrice Coffrini/AFP/Getty Images

The Bank of France urged the government to find a “fair way” of sharing the cost of a surge in the country’s energy bill this year.

The central bank estimates the additional shock in 2022 for the French economy at around €60 billion ($60 billion) or 2.5% of economic output. So far, the state has covered much of the cost, notably with price caps to limit increases in households’ electricity and natural gas bills.