France Reportedly Plans $12 Billion Annual Push to Cut Fossil Fuel Dependence
France plans to raise support for electrification to about 10 billion euros ($12 billion) annually through 2030, aiming to reduce reliance on imported fossil fuels amid global energy disruptions, according to multiple media reports.Prime Minister Sebastien Lecornu said the government will increase annual support to 10 billion euros from about 5.5 billion euros, focusing on long-term electrification instead of short-term fuel subsidies.France currently relies on imported fossil fuels for about 60% of its energy use, despite having significantly cheaper domestically produced electricity, Lecornu said in a televised address.The government aims to replace 85 terawatt-hours of gas consumption, roughly 20% of imports, with domestic electricity by 2030 as part of the transition strategy, according to the reports.Measures include installing about one million additional heat pumps annually and phasing out gas boilers in new residential buildings starting next year.By 2050, around two million social housing units are expected to eliminate gas heating, Lecornu added.France is also targeting a sharp rise in electric vehicle adoption, aiming for two out of three new car sales to be electric by 2030.Automakers are set to increase electric vehicle production to 400,000 units annually by 2027, with output targeted to reach one million units per year by 2030.The government will also roll out subsidized EV leasing from June, aimed at helping at least 50,000 low-income households access electric mobility.The government said funding will be reallocated from existing budgets and from efficiency gains, rather than through new spending, helping maintain fiscal discipline targets.Officials emphasized avoiding broad fuel subsidies, arguing such measures are costly and mainly benefit oil-exporting nations without addressing structural energy challenges.The policy shift marks a departure from earlier crisis-era support programs, as France prioritizes long-term electrification to stabilize energy costs and improve resilience.