French citizens prefer fuel price cap to superprofit tax, says TotalEnergies CEO
TotalEnergies CEO Responds to Fuel Price and Superprofit Tax Debate
By America Hernandez
CEO's Statement at Annual General Meeting
PARIS, May 29 (Reuters) - French citizens would prefer energy companies to cap fuel prices at the pump rather than pay a superprofit tax, TotalEnergies' Chairman and CEO Patrick Pouyanne told the company's annual general meeting on Friday.
He was responding to a climate NGO representative asking whether the company should contribute more to ease price shocks for consumers.
Context: Political and Public Pressure
TotalEnergies is under fire for its blockbuster profits from oil price spikes due to the war in Iran, with French politicians pushing for a supertax on the firm to help ease prices.
Public Opinion and Government Response
Pouyanne said a poll had shown that French citizens preferred a price cap, without saying which poll he was referring to.
"French people have already expressed themselves, they said they preferred the direct benefit of a capped price at the pump rather than a supertax later that the government may or may not use to finance the energy transition," Pouyanne said.
"By the way, I believe that's why the government walked back its intention to impose a supertax ... We are the only company to voluntarily cap our fuel prices in France, and the more we sell the more we lose," he added.
Reporting Credits
(Reporting by America Hernandez;Editing by Sudip Kar-Gupta and Susan Fenton)
