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Over 300 French companies urge govt to take action on surging energy prices

Over 300 French companies have alerted the country's government to the negative effects of the surging energy prices, Minister Delegate for Industry Roland Lescure has said

France | French companies | energy sector

IANS  |  Paris 

Photo: Reuters

Over 300 have alerted the country's government to the negative effects of the surging energy prices, Minister Delegate for Industry Roland Lescure has said here.

Lescure told French broadcaster Sud Radio that the risk of the going under remains limited, and that the government has no plans to extend the energy tariff shield to with more than 10 employees, Xinhua news agency reported.

According to Lescure, these companies have long-term supply contracts that protect them from the increase in energy prices.

More than one out of two French industrial companies said they had suffered consequences from the energy crisis and that their production bottlenecks had affected profitability.

According to recent surveys, 80 per cent of the country's small and medium-sized enterprises fear for their survival.

Glassware manufacturer Duralex said that the company's energy bill increased from 2 million euros ($2 million) the previous year to 13 million euros this year.

The energy price crunch has also led to employers resorting to short-time working in . The Arc glass factory has put 1,600 of its workers on two days per week of partial activity until December.

At a press conference after a Council of Ministers meeting on September 14, Economy and Finance Minister Bruno Le Maire said the energy tariff shield would concern all companies depending on the percentage of the turnover they use to cover their energy bills.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, September 21 2022. 08:40 IST