HomeEconomyEnergy crisis: "When prices skyrocket, states must intervene", insists Bruno Le Maire

Energy crisis: “When prices skyrocket, states must intervene”, insists Bruno Le Maire

In an interview granted to AFP before a meeting with his German counterparts, the head of Bercy reaffirmed France’s willingness to lower electricity prices in Europe by expanding the Iberian mechanism.

States must step in to regulate energy prices when markets are unable to do so, Economy Minister Bruno Le Maire said in an interview with AFP on Wednesday.

Coming soon solutions for energy-intensive SMEs

To reduce energy prices, the European Commission on Tuesday presented proposals aimed at reforming the flagship index of the gas market, avoiding extreme prices and defining a mandatory level of joint purchases, but without limiting the price of gas used to produce electricity, as it has been implemented in Spain and Portugal.

France has been trying for weeks “to obtain an agreement on lower electricity prices at the European level, in particular by extending the Iberian mechanism to the entire European continent. We will continue to fight in this direction, just as we will continue to fight for the disjunction between the price of gas and the price of electricity,” declared the French minister.

Bruno Le Maire also indicated that he wanted to “maintain the safety net that already exists for smaller companies. 1.5 million VSE are at regulated selling prices (TRV). We will maintain this price.” For the other energy-intensive companies, “we will present solutions in the coming days, and we are working on them in particular with the CPME,” Bruno Le Maire also indicated.

Author: TT with AFP
Source: BFM TV

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