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Luxembourg's major gas suppliers, which act as a buffer between market and consumers, have announced that prices are likely to increase by 80% in autumn.
The EU's gas emergency plan has been in effect since Tuesday, which means that the government, municipalities, businesses, and private households have been urged to save energy.
People heating with gas are likely to do so voluntarily, as Luxembourg's major suppliers announce new upticks in prices. Advances in autumn will be raised by 80%, say Enovos and SUDenergie.
Luxembourg receives the majority of its gas supplies from Belgium. Around 60% of imported gas are used to heat buildings, the rest is used for industrial production.
Since nobody knows how long the war in Ukraine will continue or if the Russians decide to stop all gas exports to the Union, elected officials are looking for alternative solutions to keep market prices low.
By October, the EU thus hopes to have filled its gas storages by 90%, which should help stabilise prices over the winter. Furthermore, the EU plans on urging member states to reduce their gas consumption by 15%.