France plans to nearly double its annual support for electrification to 10 billion euros by 2030, up from the current 5.5 billion euros, by reallocating investments and reducing the state's own energy consumption, Bloomberg News reports. The initiative aims to replace short-term fuel subsidies with targeted funding for electric vehicles and heat pumps, focusing on households and businesses with the greatest need without impacting the budget deficit.

The plan includes a ban on new gas boilers in new constructions starting in 2026, the installation of one million heat pumps annually by 2030, and increasing electric vehicle production to one million units per year.

At the same time, the government is refraining from introducing new broad support measures despite rising fuel prices, in contrast to previous extensive energy subsidies that contributed to a significant budget deficit.