According to Bloomberg article published on January 6, 2023, French President Emmanuel Macron urged energy suppliers to reduce “excessive” power and gas contracts signed with very small companies during last year’s price surge as bakers across the country led a chorus of protests.
Soaring energy prices have been squeezing consumers and businesses across Europe over the past year, forcing governments to spend tens of billions of euros in tax cuts and subsidies in a bid to keep their economies growing. In France, discontent about surging bills also comes as the government prepares to present a contentious pension reform bill.
“For our butchers, our craftsmen, for all our very small companies, all those that have negotiated excessive contracts,” the government will ask energy suppliers to make lower proposals, Macron said at a New Year’s address to representatives of bakers in Paris Thursday. “It’s not normal that some people make very large profits while we’re using taxpayers’ money to help the smallest ones stay afloat.”
The administration will ask that all such contracts signed above benchmark prices provided by the energy regulator at the end of last year to be renegotiated this month, the French President said.
Engie, the country’s biggest gas supplier, said it had offered contract that were “coherent” with the weekly benchmark provided since October 19. EDF, the biggest electricity supplier, said it “will look into how to implement such a measure as soon as possible.”
