Luxembourg Calls for Price Cap on EU Gas Imports

On Friday 9 September 2022, Luxembourg's Minister of Energy, Claude Turmes, participated in the extraordinary meeting of the Council of Europan Union (EU) Energy Ministers.

This meeting was convened by the Czech Presidency in order to discuss the emergency measures to be adopted at European level to stem the rise in energy prices and to take stock of the state of preparation for coming winter. Ministers expressed their support for the measures envisaged by the European Commission which will be published next week.

Minister Turmes has called for strong and rapid European initiatives to save energy and reduce the bills that weigh on consumers and risk affecting the competitiveness of companies. On the security of natural gas supply, as winter approaches the EU is in a more favourable position than a few months ago thanks to the measures already implemented such as the reduction in gas consumption and the filling of gas storage facilities.

Minister Turmes said: "With regard to electricity, the European Union must provide more reliable forecasts by the end of September on the production that we will be able to have in the heart of winter, in view in particular of the state of the French nuclear power plant. These European forecasts are necessary in order to be able to act accordingly and take the necessary measures. Electricity prices are caused by high gas prices. We must therefore treat the problem at the root and cap the price of imported gas. I also call on the Commission to speed up the establishment of the joint natural gas purchasing platform. In the long term, the solution lies in an accelerated deployment of renewable energies”.