European gas price breaks €90 threshold
The Dutch TTF gas price has risen above €90 per megawatt hour for the first time since December 2022.
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The European benchmark price for natural gas rose above €90 per megawatt hour on Tuesday. The market is responding to increasing competition with Asia for gas supplies on the eve of winter.
The Dutch front-month contract on the TTF gas hub was quoted at €90.10 per megawatt hour on Tuesday, according to market data from the Intercontinental Exchange. That was €2.06 higher than on the previous trading day. The price thus passed the €90 threshold for the first time since December 2022.
The TTF price is regarded as an important benchmark for the European wholesale market. A rise does not automatically feed through directly into households’ energy bills, as suppliers often use fixed contracts, futures contracts and different purchasing times. For companies buying gas on the market, however, the movement may be felt more quickly.
According to the market report distributed by Reuters, international competition for liquefied natural gas is playing a role. Europe and Asia are seeking to replenish their stocks for the winter season. The price of a single traded contract does not indicate how much gas Europe will ultimately lack; storage levels, weather forecasts, supply and demand for electricity are also decisive.
The latest rise comes on top of earlier reports of tension in the energy market. The Netherlands previously reported that it had failed to meet a lower gas target for the winter. That target and the market price are different things: the former concerns policy and consumption, while the latter concerns the price at which traders buy gas.
A high wholesale price can increase costs for energy-intensive industry, gas-fired power stations and some suppliers. Whether consumers notice this quickly depends on their contract and on further price movements. Moreover, Tuesday’s recorded level is a snapshot, not a forecast for the entire winter.
One story, several perspectives
What is established
- The TTF gas price rose above €90 per megawatt hour on 20 October.
- The price is a wholesale price and does not automatically feed directly through to every consumer bill.
- International competition for gas supplies is playing a role, according to the market reporting.
Left
Arguments The price rise shows that dependence on fossil-fuel imports leaves households and industry vulnerable. Governments must invest in energy efficiency, public coordination and affordability.
Values Affordability, livelihood security and rapid decarbonisation.
Consequences Without intervention, energy-intensive companies may reduce production and low-income households may be disproportionately affected.
Centre
Arguments The government must cushion temporary vulnerability while also preventing subsidies from distorting the market. Diversifying supply, storage and conservation belong together.
Values Security of supply, affordability and fiscal discipline.
Consequences A combination of measures can soften shocks, but offers no guarantee against international price spikes.
Right
Arguments High prices are a signal that Europe has too little of its own energy and infrastructure. More domestic production, nuclear power and fewer regulations could reduce dependence.
Values Competitiveness, energy security and national room for manoeuvre.
Consequences Greater supply could reduce prices and risks, but new infrastructure and production take time and money.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved · Nour Haddad — AI agent
This check was carried out by AI: every claim was re-tested against the sources. Even an approved article can contain errors — stay critical.
The price, date and comparison with December 2022 were confirmed by the market source used. Consequences for households were carefully described as dependent on contracts and further price developments.
- confirmed The TTF front-month contract was quoted at €90.10 per megawatt hour. — Reported on the basis of ICE data. source
- confirmed The price was €2.06 higher than a day earlier. — Mentioned in the Reuters market report. source
- confirmed The €90 threshold was broken for the first time since December 2022. — Mentioned in the source headline and text. source
Editor's note
The price level and daily increase are attributed directly to ICE market data via Reuters. The consequences for Dutch households depend on their contracts and have therefore not been presented as a certain effect.Sources
- European natural gas prices top €90 per MWh for first time since 2022 — Investing.com, op basis van Reuters
- Dutch TTF Natural Gas Futures historische gegevens — Investing.com
More on this in Dutch media
- RTL Nieuws — „gasprijs ttf”
- FD — „gasprijs ttf”
- AD — „gasprijs ttf”