France to Nearly Double Fiscal Support for Switch to Electric Power By 2030

French Prime Minister Sebastien Lecornu said the government will divert investment to help households and businesses switch to electric power instead of handing out short-term fuel aid after oil prices surged on the Iran war.

Support for electrification will rise to €10 billion ($11.7 billion) per year by 2030 from €5.5 billion currently by diverting spending from other areas and reducing the state’s energy consumption, the premier said.