Electricity prices in Luxembourg will increase by 30%
Arthur Lambillotte, Unsplash
The price change is due to the end of the electricity price cap, which expires at the end of this year. The government plans to introduce only a partial electricity price cap. This means that the government will cover half of the expected price increase for households.
The National Institute of Statistics and Economic Research (STATEC) predicts that electricity prices will increase by 60% by 2025. With the new cap, household electricity bills will increase by 30%. Erik von Scholz, CEO of Enovos (one of the main electricity suppliers in Luxembourg) agreed with this forecast.
This year, without the price cap, households consuming an average of 4,000 kilowatt-hours would have paid about €1,435 for electricity. Under the current cap, they would pay only €855. Von Scholz confirmed that the announced increase would indeed take place next year. He advised customers to look at energy efficiency measures and government support for solar PV.
Von Scholz also noted that gas prices will remain unchanged despite the end of government measures. He emphasized that, like electricity, gas prices are subject to geopolitical factors and weather conditions.
