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How can we lower our energy bills? The boss of Luminus recommends reducing our consumption

  • Post category:Economy News
  • Reading time:3 mins read

Grégoire Dallemand was the guest of It’s not every day on Sunday and returned to the reasons for the soaring energy prices. To get out of this solution, he recommends reducing our consumption.

Soaring energy prices don’t seem to be stopping and bills are getting harder and harder to pay for consumers. This is the case for Dominique, a resident of Andenne: “I am a client of Luminus and nothing justifies the prices that you impose on us at the present time. If you have a justification, come and explain it to me“, he asks on the show It’s not every day on Sunday.

Grégoire Dallemand, the boss of Luminus and president of the FEBEG, was on set to answer this question: “Prices reached stratospheric levels at the end of August, but they are stabilizing at around €200 on the wholesale market per megawatt hour, both now and for next year. Around 2025, the price evolves to reach below 100€” did he declare.

This future price remains high, because energy suppliers used to buy it for €20 before the crisis: “Gas prices made x10 on the European and Asian markets, this is a very strong increase compared to the situation that prevailed before“says Grégoire Dallemand.

Most of the gas has so far come from Russia. The situation has changed since the war in Ukraine, because the objective is now to do without Russian gas. “Part of this volume has been replaced by liquefied natural gas (LNG), which arrives in Zeebrugge by boat“, explains the director of Luminus. “The price of LNG is very high because it is in high demand. The price in Zeebrugge is the same in Tokyo, to supply Asian countries“he adds.

Reduce our consumption to reduce bills

Faced with a situation where energy suppliers can do nothing, Grégoire Dallemand suggests saving money: “To lower the energy bill, the first measure we have access to is to reduce consumption, because this has an impact on the bills“, he justifies. “If all Europeans manage to reduce gas consumption, that is when together we will be able to have an effect on the fixing of the price on the market, because on the price of LNG, the price is fixed meeting gas supply and demand“completes Grégoire Dallemand.