France's Macron Unveils Bold Plan to Lower Power Prices and Boost Green Investment

French President Emmanuel Macron has pledged to "take back control" of electricity prices by the end of the year. While not specifying the exact steps, Macron stated that state ownership of utility EDF and France's nuclear fleet would help achieve this goal. The move aims to address the impact of inflated electricity prices due to rising gas prices in Europe, particularly in France. Macron also outlined measures in a multi-year environmental plan, including the phasing out of coal-fired power plants by 2027 and promoting electric cars and heat pumps. The government plans to allocate an additional 7 billion euros for environmentally friendly investments in the 2024 budget.