Energy bill may no longer be linked to oil price

Energy watchdog CREG has issued a proposal to distantiate the cost of gas and electricity in Belgium from the fluctuating oil price. Many vendors are currently making their invoice based on parameters which in fact have nothing to do with the cost of gas and electricity. Today, 60% of the Flemish and Walloon consumers and 85% of the Brussels consumers receive gas bills based on the price of oil, and electricity bills based on oil, coal and gas. Federal Economy Minister Johan Vande Lanotte (SP.A, Flemish Socialist party) is for the separation of energy and oil prices, and backs the CREG’s claim that it could save the consumer up to €600 a year.