BAFL 45.66 Increased By ▲ 0.56 (1.24%)
BIPL 20.08 Decreased By ▼ -0.17 (-0.84%)
BOP 5.34 Decreased By ▼ -0.06 (-1.11%)
CNERGY 4.54 Increased By ▲ 0.01 (0.22%)
DFML 16.01 Increased By ▲ 0.33 (2.1%)
DGKC 78.62 Increased By ▲ 5.74 (7.88%)
FABL 27.80 Increased By ▲ 0.65 (2.39%)
FCCL 18.86 Increased By ▲ 1.21 (6.86%)
FFL 8.96 Decreased By ▼ -0.13 (-1.43%)
GGL 12.85 Increased By ▲ 0.21 (1.66%)
HBL 111.54 Increased By ▲ 0.88 (0.8%)
HUBC 122.23 Increased By ▲ 0.71 (0.58%)
HUMNL 7.69 Increased By ▲ 0.34 (4.63%)
KEL 3.29 Increased By ▲ 0.06 (1.86%)
LOTCHEM 27.80 Increased By ▲ 0.48 (1.76%)
MLCF 42.36 Increased By ▲ 3.03 (7.7%)
OGDC 110.37 Increased By ▲ 2.37 (2.19%)
PAEL 18.97 Increased By ▲ 1.41 (8.03%)
PIBTL 5.46 No Change ▼ 0.00 (0%)
PIOC 114.91 Increased By ▲ 6.91 (6.4%)
PPL 94.72 Increased By ▲ 2.97 (3.24%)
PRL 25.32 Increased By ▲ 0.44 (1.77%)
SILK 1.10 Increased By ▲ 0.02 (1.85%)
SNGP 64.32 Increased By ▲ 1.22 (1.93%)
SSGC 12.26 Increased By ▲ 0.37 (3.11%)
TELE 8.36 Increased By ▲ 0.17 (2.08%)
TPLP 13.35 Increased By ▲ 0.24 (1.83%)
TRG 83.84 Increased By ▲ 2.23 (2.73%)
UNITY 25.89 Increased By ▲ 0.14 (0.54%)
WTL 1.54 Increased By ▲ 0.02 (1.32%)
BR100 6,308 Increased By 126.6 (2.05%)
BR30 21,973 Increased By 434.1 (2.02%)
KSE100 61,691 Increased By 1160 (1.92%)
KSE30 20,555 Increased By 366.1 (1.81%)

PARIS: French President Emmanuel Macron said on Monday his government would "take back control" of electricity prices by year end.

Without spelling out what steps he would take to do so, Macron said state ownership of utility EDF and France's nuclear fleet would help achieve this.

"There is a point that is key for our competitiveness, and we will announce it in October, and that is to take back control of electricity prices," Macron said as he announced a multi-year environmental plan.

"We'll be able to announce in October electricity prices that are in line with our competitiveness," he said, adding that this would apply to households and businesses.

EU agrees ‘roadmap’ to contain energy prices

"By the end of the year we will regain control of the price of electricity, at the French and European level," he said.

An Elysee official said that would be achieved via a French energy law, to act on the fact that gas prices have inflated electricity prices in Europe, and in particular in France, amid the Ukraine war.

That would be done without waiting for a reform in the works at European Union level to be wrapped up, the official said.

In a country that is banking heavily on nuclear energy to limit its emissions, measures in the multi-year green transition plan include an end to coal-fired power plants in 2027, encouraging the French to ditch thermal engines for electric cars and promoting heat pumps as a way to heat houses.

To achieve a 55% reduction in net greenhouse gas emissions in 2030 compared to 1990, "we must succeed in doing more in seven years than what we have done in the last 33 years," the Elysee said in a press note.

The government had already said that a further 7 billion euros would be set aside in the 2024 draft budget bill for environmentally friendly investments, financed by removing some of the tax breaks which some industries get on their on fossil fuel use.

Macron said on Sunday that the government would ask the fuel industry to sell at cost price and would grant 100 euros in aid to the poorest workers who drive to work, to stem the impact of inflation on households.


Comments are closed.

France to 'take back control' of power prices, Macron says

Pakistan’s trade deficit narrows 34% to $9.38bn in 5MFY24

KSE-100 conquers 61,000 after single-day gain of 1,160 points

COP28: UAE president announces $30bn fund to bridge climate finance gap

Israel resumes Gaza attacks as truce expires, heavy fighting reported

Al Qadir Trust case: NAB files reference against Imran, wife

Inter-bank: rupee records 4th consecutive gain against US dollar

Open-market: rupee continues to strengthen against US dollar

PCB includes Salman Butt in selection panel, decision draws criticism

ECP refutes Babar Awan’s statement about KP’s seats being reduced

COP28: Caretaker PM Kakar arrives at Dubai Expo City