Codeco “Energy Crisis”: here is what will be decided, the postponement of the repayment of your mortgage on the table

Here is the list of measures that should be recorded during the Energy Codeco of this Wednesday, August 31, selon LN24.

Energy consumption will be reduced by the federal government: the temperature in public buildings, the use of air conditioning and lighting will thus be impacted, and limited to a maximum of 19 degrees.

The authorities will extend the energy measures currently in force: the extension of the target group for social tariffs, the 6% VAT on electricity, heat and gas and the reduction of excise duties on petrol and diesel for first quarter of 2023.

The excess profits made by multinationals in the energy sector will also be studied during the month of September. Surplus profits might be used to help Belgians pay their bills. This contribution to the distribution will be compensated by a level of gross profit margin which remains to be determined.

A discussion will be held with energy suppliers so that consumers who request reimbursement plans can obtain them on request. Appropriate measures will also be negotiated for businesses and SMEs.

Finally, the ministers of finance and the economy, as well as the financial sector, will study the possibility of postponing the repayment of mortgage loans for households heavily affected by the energy crisis.

Security of gas and electricity supply

The federal government also wants guarantees regarding security of gas and electricity supply.

Belgian gas demand should thus be covered by imports via the LNG terminal and the pipelines from Norway and the United Kingdom. 62.15 GWh/h of natural gas are supplied via these channels and the current Belgian peak gas consumption is 47.8 GWh/h. In cold weather, underground gas storage capacity in Loenhout is also available.

The Tihange 3 and Doel 4 nuclear power plants will be extended for ten years, but there are still reservations regarding the electricity supply capacity in our territory. For this reason, the licensee was also asked to examine the possibility of postponing the final shutdown scheduled for March 31, 2023. Similarly, the licensee must demonstrate to the FANC that nuclear safety is sufficiently guaranteed.

Finally, the operator of the high-voltage electricity transmission network Elia will prepare an auction on the subject of demand management and batteries. Belgium thus hopes to protect itself in the event that the French nuclear power plants are unavailable.

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