The Russia-Ukraine war has affected the entire continent of Europe. The oil and gas prices have shot up considerably, forcing countries to employ measures to cut back on their usage. Joining the list is France which has cautioned of a price increase but simultaneously assured that it will be kept in check.
Reportedly, French Finance Minister Bruno Le Maire on Saturday, soothing the jangling nerves of French citizens remarked that the hike in electricity prices will be limited.
“Increases that the President and Prime Minister have spoken about will be limited increases. The four per cent cap will be maintained to the end of the year.” said Bruno Le Maire.
The minister further added, “There will be no catch-up of costs on the ceiling in 2023,”
As reported by WION, earlier this week, President Emmanuel Macron added to the woes of the public by stating that it was the ‘end of abundance’ for the country.
Read more: Living through a tipping point or great upheaval, says French President Macron
“I believe that we are in the process of living through a tipping point or great upheaval. Firstly because we are living through… what could seem like the end of abundance,”
Terming the current situation as a battle that needed to be fought, Macron added, “Freedom has a cost. The battles we have to fight will only be won through our efforts.”
It is pertinent to note that gas prices in France have been currently capped by the government at 4 per cent up until the end of the year. Moreover, the government is expected to refine the process of businesses gaining access to the three billion euro fund, set up for those unable to meet energy bills.
Other European nations are not as lucky
While the French government is assuring its citizens that price rises will be regulated, other countries and their citizens do not have the same reliability at their end.
As reported by WION, in the United Kingdom, an average UK household is expected to shell out as much as $5,000, come the winters. Meanwhile, UK natural gas prices have risen nearly 96 per cent in the year to July, while electricity prices are up 54 per cent.
Read more: British energy regulator blames Russia for 80 per cent price hike
(With inputs from agencies)
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