France predicted a tenfold increase in electricity prices in Europe

PARIS, Sep 14 – PRIME. The projected market price of electricity in Europe in 2023 will be 10 times higher than two years ago, and the price of gas will be 5 times higher than its price in 2021, Prime Minister Elisabeth Born said at a press conference on Wednesday.

“Energy prices are rising. As for gas, the market has set the price for 2023 at 5 times the price of 2021. As for electricity, the projected price on the market in 2023 is 10 times the price of 2021,” the prime minister said.

Earlier, French media reported that the wholesale price of electricity in France will reach a record high in 2023, exceeding the mark of 1,000 euros per megawatt-hour – 1,000% more than a year earlier.

The Prime Minister on Wednesday announced new government steps to combat rising gas and electricity prices after the end of this year’s measures to keep price increases at 4% until the end of December 2022.

For example, the French government has pledged to keep gas and electricity price increases at 15% in 2023.