European gas price tops €97, highest since 2022
The European gas price rose about 3.5% on Monday morning to more than €97 per megawatt hour, its highest level since the energy crisis of December 2022.
The European gas price rose further on Monday morning, by about 3.5%, to more than €97 per megawatt hour. At the start of the month it stood at less than €75.
Before the Iran war broke out at the end of February, the price was about €32.
The price is now at its highest since December 2022. Then Russian gas deliveries to Europe almost entirely stopped because of the invasion of Ukraine, and the price rose to more than €340 per megawatt hour.
Gas, like crude oil, is getting more expensive because of the violence in the Middle East. Qatar is one of the world's biggest exporters of liquefied natural gas (LNG), and it ships almost all of it through the Strait of Hormuz, which is also the main route for oil from the Gulf region.
What this means for you
- A fixed tariff (vast tarief) keeps the price per kWh or m3 the same for the contract period, for example 1 or 3 years, and then becomes a variable tariff (variabel tarief), with new tariffs announced at least 30 days ahead.
- With a variable tariff the supplier may change the price per kWh and m3, usually at set moments such as every 3 months, with at least 1 month's notice, and there is no cancellation fee (opzegvergoeding) if you cancel.
- With a dynamic tariff (dynamisch tarief) the electricity price changes every quarter of an hour, every hour or every day and the gas price changes every day, following wholesale market prices, so you pay more when prices rise.
- A model contract (modelcontract) is a standard variable or 1-year fixed contract, its variable tariff may change no more than 4 times a year, and a supplier may still charge feed-in costs (terugleverkosten) to customers with solar panels.
Source: ACM ConsuWijzer: vaste en variabele leveringskosten, read 26 October 2026
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