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France Freezes Energy Prices

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France Freezes Energy Prices

“We will freeze, freeze. There will be no more increases to the gas price,” Prime Minister Jean Castex told French broadcaster TF1. Castex expects gas prices to continue rising by around 30% through the end of the year. He thinks it could even increase through the spring, but he said consumers would not see those increases on their bills, Euronews reports.

Electricity prices will also be frozen, although an increase could be necessary in 2022: “We will limit an increase in electricity prices to 4%,” Castex said.

The rising natural gas prices are related to both demand and supply problems in Europe following a long winter last year.

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