Although natural gas prices in Europe have decreased since August, they are still very high. At the current prices of electricity, natural gas and oil, the annual import cost of energy resources of the Baltic States would increase by approximately 1.5 billion euros in Estonia, 2 billion in Latvia and more than 3 billion in Lithuania. This is about 5-6% of GDP and together with the increase in food prices, it is a big shock to the economy. Part of this increase will be covered by government support measures, while administrative and legislative instruments are being sought in Europe, which could reduce the prices of energy resources and, in particular, break the close link between electricity and natural gas prices. However, the financial burden on households and companies will increase significantly, purchasing power will decrease and the situation in the economy will worsen. And the energy issue is not just about finance. Without Russian imports, there will not be enough natural gas for normal consumption in the Baltic and Finnish regions this year. In the middle of October, there was about 13 TWh of natural gas in the Inčukalna gas storage facility in Latvia, while natural gas consumption in the winter period in Latvia, Lithuania, Estonia and Finland is close to 50 TWh. Klaipėda and Inkoo natural gas terminals will not be able to provide sufficient import volume this winter. However, the good news is that by using alternative energy sources and implementing sensible conservation measures, natural gas consumption in our region has already decreased by about 30%. If this can be maintained, then there should be enough natural gas supplies for this winter, but prices are and will be high, and we and Europe have 6-12 difficult months ahead.