Gas prices in Luxembourg to almost double this autumn

Major gas suppliers have said they expect prices to increase by 80% by October.

Since Tuesday, August 9, the European Union’s emergency plan for gas has been in effect. Governments, municipalities, businesses and people should conserve energy wherever possible. However, if prices really rise by 80%, people will start to save it even without recommendations.

There are risks that the war in Ukraine will drag on and Russia will stop exporting its energy to the European Union. Therefore, by October, the EU hopes to fill its gas storage facilities to about 90%. This should help keep prices down during the winter. In addition, the EU plans to encourage member states to consume 15% less energy than they currently do.

Luxembourg receives the lion’s share of its gas from Belgium. Around 60% of it goes to heating, the rest — to industrial production.