French Economy Minister Bruno Le Maire told BFM TV on Sunday that the government plans to spend 22 billion euros on purchasing power support measures.

Bruno le maire, French BFM television reported, said in the face of rising energy prices, the need to accelerate the French in the field of energy independence, and greatly reduce dependence on imports, is the responsibility of the ministry of economic affairs to prepare for all possible situations, including the stuck energy imports, prices, and so on and so forth, the prospect of geopolitical tensions still exist uncertainty, So it is wise to be prepared.

In response, the French government plans to spend 22 billion euros on measures to support purchasing power. Bruno Le Maire explained that freezing gas prices for the whole of 2022 could cost 10 billion euros, capping electricity prices cost 8 billion euros, and issuing "inflation subsidies" cost 4 billion euros. "The total bill is more than 20 billion euros just to protect our fellow citizens from rising energy prices." That bill is likely to rise further in the coming months.

The French government will draw up an "economic and social resilience programme" to deal with the challenges of higher energy and commodity prices. Bruno le maire didn't specify will support measures, but said the French government prepared to take more measures to support the domestic purchasing power, these measures will be "targeted", not "at any cost" comprehensive aid, cannot cope with geopolitical crisis by distributing cash around, this is different Yu Xinguan outbreak of the crisis, "We will offer a solution to all the French people most affected by the crisis, which will be targeted at those who need it most." As for French companies, Bruno Le Maire promised large-scale, targeted support for industries that need it.

French fuel, gas and electricity are all at risk of tight supplies or soaring prices. Average fuel prices in France rose for the 10th consecutive week between February 26 and March 4, hitting a new high again, according to data released by the French Ministry of Ecological Transition on Tuesday. The average price of diesel rose to unprecedented levels of €1.8831 per litre, €1.8713 per litre for SP95-E10 and €1.9558 per litre for SP98. Michel-edouard Leclerc, chief executive officer of Leclerc group, said in an interview with France Info on Tuesday that fuel prices would not stop rising, with Paris and many other big cities seeing fuel prices surpass 2 euros per liter. "The worst is yet to come," he said.

Catherine McGregor, CEO of Engie Energy Group, said in an interview with Les Echos on Thursday that France will have no problem with gas supplies in the coming winter, but it will not be easy to replenish stocks in spring and summer to prepare for the winter of 2022 to 2023. If geopolitical tensions continue, the situation will be very difficult. France could face gas shortages in the coming winter. It cannot be ruled out that the government will introduce "gas rationing" measures, in which both companies and citizens may have to reduce gas consumption, especially for heating. Volatility in the gas market will also affect electricity prices, which have risen by 4% since November 2021. If the government had not capped electricity price increases, individual customers' bills could have soared by nearly 44.5 per cent.