the cost of direct aid estimated at 24 billion euros

If inflation again broke a new record in August for the euro zone, with an increase average prices of 9.1% over one year, France is the country that is doing the best, with despite everything a jump of 6.5%. This is good news, but it comes at a cost. According to Bercy, the energy shield has already cost around 24 billion euros since it was set up a year ago. A figure which represents 1% of the national GDP and which should increase further.

The most expensive measure relates to electricity. The cap on the increase in regulated tariffs has burdened the State budget to the tune of 10.5 billion euros. A bill that should continue to soar, the executive has already warned thatno sudden increase would not take place in 2022 or 2023.

Discounts at the pump

In second position come fuel aid, and in particular rebates at the pump: estimated, for the moment, at 7.5 billion euros. Here too the total should greatly increase. The boost has just been greatly reinforced on September 1 to go to 30 cents, against 18 until then. This amount will be maintained for two months (September and October), before dropping to 10 cents in November and December. An expensive and disputed measure because it comes a little out of time. The price of petrol has indeed been falling for several weeks after having exceeded two euros per liter in June.

Third and behind position: gas aids. Freezing regulated tariffs at their October 2021 level will have cost 6 billion euros.

Measures that have an impact

Beyond these direct aids, the energy shield also cost 8 billion euros to EDF within the framework of Arenh (according to company estimates). A sum which certainly does not come out of the pockets of the State, but nevertheless has an indirect cost because the State remains the first and soon the only one shareholder of the group.

These various measures will have made it possible to partially protect the French against the explosion in the prices of the various energy sources. Admittedly, the bill for many of them has swelled, but this is nothing compared to the bad surprises currently experienced by English households for example. Across the Channel, the flight is such that a movement of civil disobedience “don’t pay” has emerged.

Read alsoPhilippe Aghion: “The tariff shield cannot be maintained indefinitely”

Behind this good news, however, lies the issue of balancing the public accounts. Growth gains this year will surely not be enough to cover all these expenses, especially since several organizations such as the Court of Auditors felt that the executive’s growth forecast was a little optimistic. However, as Emmanuel Macron said:at the end, you also pay, you know. There is no magic money.