France won’t face a rise in electricity prices of more than 10% at the beginning of next year, Finance Minister Bruno Le Maire told the radio station Europe 1, Report informs.
“There will be no increase in electricity prices by more than 10% at the beginning of 2024. I have taken on this obligation and will fulfill it,” the minister noted.
He added that to ensure energy security and produce a sufficient amount of electricity, France needs to build six new nuclear power units. This requires at least 50 billion euros, and France “cannot help but include this cost in the French energy bills.”
Earlier it was reported that the authorities signed an agreement with the state energy company EDF regarding a new model for setting electricity prices. Starting from 2026 and lasting for 15 years, the price for nuclear electricity is set at 70 euros per MWh, which will allow the company not to sell electricity at a loss.