Capping energy bills at 15% sharply limited a major component of household costs, strongly easing cost-of-living pressure.

As part of its 'bouclier tarifaire' (tariff shield), the French government led on the economic side by Bruno Le Maire announced in September 2022 that household electricity and gas price increases would be capped at 15% in 2023, far below the 100%-plus rises markets implied. The state absorbed much of the cost through the public budget. The shield, among the most generous in Europe, was credited with keeping French headline inflation below many euro-area peers during the energy crisis.
As part of its 'bouclier tarifaire' (tariff shield), the French government led on the economic side by Bruno Le Maire announced in September 2022 that household electricity and gas price increases would be capped at 15% in 2023, far below the 100%-plus rises markets implied. The state absorbed much of the cost through the public budget. The shield, among the most generous in Europe, was credited with keeping French headline inflation below many euro-area peers during the energy crisis.
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Capping energy bills at 15% sharply limited a major component of household costs, strongly easing cost-of-living pressure.