PARIS, France: French Finance Minister Bruno Le Maire has said that the country will spend 8.4 billion euros to help companies pay their energy bills, in a bid to cushion the impact of rising electricity and gas prices and help compete with German businesses.
France will cut a special tax on electricity to the minimum allowed under EU rules and allow companies to tap a special mechanism to receive inexpensive nuclear-derived power.
"Small businesses will also benefit from the energy price caps already in place for households. French companies will be protected, as well as German companies are," Le Maire told France Inter radio.
"We will also make sure that EU competition rules apply to all companies, whether they are Italian, Spanish, French or German," he added.
In a statement, the French finance ministry said that the 8.4 billion euro package announced this week will be available for both 2022 and 2023.