While motorists are concerned about rising fuel prices, another vital resource is also seeing significant price increases. This week, MPs in the Chamber of Deputies held debates in order to set up a subsidy to compensate for the rise in gas prices. The idea is that the government will pay for the costs of using the natural gas distribution system.
According to the Chamber of Deputies, draft bill No. 7980 presented by Minister for Energy Claude Turmes was “positively” received by MPs. The text emphasises the “extreme increase” in the price of natural gas which has exceeded “15 times the level before the pandemic.” The government proposes to reimburse the cost of using the distribution network in this context, but only for consumers who use less than 65 cubic metres per hour.
According to Turmes, this measure is meant to compensate for the increase in natural gas prices and would have a “slightly higher monetary value” than the government’s fuel price refund. The good news is that the measure might be passed as soon as next week, according to the Chamber of Deputies. This could mean that the aid will take effect as early as May.
The cost of this measure has been estimated at €45 million. In addition, €12 million will be invested in an attempt to stabilise the price of electricity in Luxembourg.
