Paris is in a panic! France’s energy crisis has prompted calls for an EU reaction – ‘It’s time.’
The French Finance Minister, Bruno Le Maire, has urged the European Union to address the country’s high energy prices.
On Monday, Mr. Le Maire stated that rising energy prices were a problem not only in France, but throughout Europe. He encouraged the EU to address the problem and requested a coordinated response.
“This is a source of concern for everyone,” Mr Le Maire told reporters at a Eurogroup meeting in Luxembourg.
“It is past time for Europe to respond.
“It’s time to take a look at the energy industry,” says the author.
“We make two ideas,” he continued, “1) stronger regulation of the gas market and stocks.”
“2) A direct link exists between the average cost of producing electricity in each member state and the price paid by citizens.”
Mr. Le Maire shouted at the turmoil of France’s energy crisis just over a week ago, prompting his repeated appeals.
“The French are paying the bill in a way that they don’t comprehend and that is completely inefficient from an economic standpoint,” Mr Le Maire said on Parliamentary TV.
“Nuclear power reactors and hydraulic power provide electricity in France.
“As a result, we have carbon-free energy at a low cost, but the market […] means that power costs in France are tied to gas prices.”
“We have to comprehensively evaluate [its]operation,” Mr Le Maire remarked.
On C News TV on Tuesday, he also discussed the spike in energy prices.
Mr Le Maire commented on the situation, saying that the increase in energy prices could last “a few more months.”
This comes as France’s energy authority predicted a 12.6 percent increase in Engie’s gas prices starting October 1.
The French government has pledged to help with the energy issue by making payments to people across the country.
5.8 million homes across the country will receive 100 euros as part of the one-time payment to cope with rising energy prices.
According to Gabriel Attal, a spokesman for the French government, fresh steps to address the problem are being considered.
“We are working on more measures,” Mr Attal said on Europe 1 radio.