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France will pay half of the energy cost overrun of its companies affected by the crisis

The Government of France presented a plan to mitigate the impact of rising prices in the energy sector. In this sense, they will assume the payment of half of the extra cost of gas and electricity of the companies that are at risk of operating with losses.

Thus, companies will benefit – regardless of their sector and size – in which gas and electricity represent more than 3% of their turnover and whose numbers may close in the red due to the energy crisis.

Bruno Le Maire, Minister of Finance, explained that this plan will include more sectors such as metallurgy, chemical industry, paper and cardboard, as well as agri-food industries and farmers.

In parallel, the loans guaranteed by the State for intensive energy companies will also be reinforced, which will have more flexibility to defer the payment of taxes and social contributions, as well as to resort to the Temporary Employment Regulation File (Erte).

On the other hand, Prime Minister Jean Castex specified that there will be “specific responses” for the sectors hardest hit by the rebound in energy prices, starting with fishing, considering that from this Thursday until the end of July, the State will finance a reduction in 35 euro cents per liter of fuel for boats.

Some 400 million euros will also be injected for farmers and ranchers, who face a sharp increase in the price of feed, and different mechanisms for the transport sector.

And for individuals, last weekend Castex had already announced that from April 1 and for four months, the price of fuel at gas stations will be reduced by 15 euro cents per liter. The reduction is also aimed at professionals and will cover vehicles that use natural gas (NGV) and petroleum gas (LPG).

Source: EFE

Source: Larepublica


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