Price of electricity 'to rise by 40%'

The annual electricity bill for the average household could increase from €590 to €840 – an increase of 40%, according to a study by Boston Consulting on behalf of the Federation of Enterprises in Belgium (FEB), several newspapers report this morning. The price paid by large companies is expected to double. The study posits the continuation of Belgium’s current energy policies, which include the phasing out of nuclear power plants, the development of offshore wind farms and the construction of new gas-fired plants. The increase could threaten the viability of certain industrial activities in Belgium, warns the report, particularly for the production of paper, which employs 4,000 people directly in Belgium.