European gas price nears €100
The TTF price rose to almost €100 per megawatt-hour on Wednesday, its highest level since 2022.
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The European wholesale price of natural gas rose further on Wednesday and is nearing €100 per megawatt-hour. On Amsterdam’s TTF market, the price rose to around €99.5, according to market data.
A rise of approximately 3 to 3.5 per cent has not been confirmed. This puts natural gas at its highest level since the energy crisis of 2022. The TTF is an important reference point for the European gas market, even though households and businesses do not pay this exchange price directly.
The immediate cause is not a single report, but a combination of factors. Demand for gas is increasing as the weather gets colder and European countries begin drawing gas from their reserves. The geopolitical situation in the Middle East is also a factor, as uncertainty over liquefied natural gas supplies makes the market more sensitive to disruptions.
The higher wholesale price does not immediately, and on a one-to-one basis, feed through into all energy bills. Energy suppliers purchase gas at different times and use various types of contract. However, new contracts and variable tariffs may become more expensive in the longer term if the high price persists.
The development could have consequences for energy-intensive companies. Factories, greenhouse horticulture businesses and electricity producers that use gas may face higher purchasing costs. Depending on their technical options, this could lead to higher production costs, reduced output or a shift to other fuels.
The European situation is less vulnerable than during the peak of 2022, when the TTF price exceeded €340 per megawatt-hour. The weather and uncertainty over LNG supplies are contributing to the current rise. The price of almost €100 alone does not indicate that a new crisis will follow.
For the Netherlands, the course of the coming winter could be important. A mild winter could limit demand, while prolonged cold or new disruptions to international supplies could drive the price up further. It is therefore not yet clear what each consumer’s eventual energy bill will be.
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One story, several perspectives
What is established
- The TTF gas price stood at around €99.5 per megawatt-hour on 28 October 2026.
- The price is at its highest level since 2022.
- The market is responding to higher demand, withdrawals from storage and geopolitical uncertainty.
- A high wholesale price does not automatically feed through immediately into every energy bill.
Left
Arguments The price rise shows that dependence on fossil-fuel imports makes households and businesses vulnerable. Faster investment in insulation, energy saving and renewable energy can reduce exposure to geopolitical price shocks.
Values Affordability, security of subsistence, climate policy and public protection.
Consequences Without support, low-income households and energy-intensive companies in particular may have to bear the cost; the transition to sustainability does, however, require public investment and time.
Centre
Arguments The government should cushion temporary vulnerability, but should not fully subsidise every market movement. Well-stocked reserves, reliable infrastructure, transparent contracts and targeted support for people who get into difficulty are important.
Values Security, practicability, affordability and budgetary discipline.
Consequences A combination of market forces and targeted protection limits both energy poverty and indiscriminate multi-billion-euro spending.
Right
Arguments The rise underlines that energy policy must be realistic about security of supply and costs. The Netherlands and Europe must use all available sources, speed up permits and avoid pricing companies out of the market with additional burdens.
Values Affordability, competitiveness, national security and enterprise.
Consequences An overly rapid or one-sided transition to sustainability could cost production and jobs; continued use of fossil fuels does, however, increase climate and geopolitical risks.
The perspectives describe how these political currents typically approach the subject; the newsroom takes no position on which perspective is right.
Fact-check Approved with corrections · 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 rise and level of the European gas price have been confirmed by multiple public sources. The original claim that the price was above €100 has been toned down because the available quotations were just below that level.
- confirmed The TTF gas price rose to approximately €99.5 per megawatt-hour on 28 October 2026. — ANP and ANSA cite approximately €99.50 and €99.39 respectively. source
- confirmed The price is at its highest level since 2022. — This is reported by ANSA and ANP. source
- confirmed Colder weather and geopolitical uncertainty are contributing to the rise. — The sources mention increasing demand, winter conditions and uncertainty surrounding the Middle East and LNG supplies. source
- confirmed The TTF price reached more than €340 per megawatt-hour during the energy crisis of 2022. — ANP cites this historic peak. source
1 correction(s) applied
- Was: The European gas price is continuing to rise and stands above €100 per megawatt-hour.Now: The European gas price is continuing to rise and is nearing €100 per megawatt-hour. (The available quotations were around €99.4 to €99.5.)
Editor's note
The TTF price stood at around €99.4 to €99.5 per megawatt-hour on Wednesday; the headline from the news roundup saying that the price was above €100 has therefore not been adopted. The consequences for Dutch consumers depend on the type of contract and the timing of purchases.Sources
- Europese gasprijs stijgt tot bijna 100 euro — ANP via Zeelandnet
- Il prezzo del gas sfiora i 100 euro al megawattora — ANSA
- Energie-update: WKK's kunnen weer aan als wind wegvalt — BPnieuws