Gas prices rise after escalating violence in the Middle East

The price of gas has risen sharply recently. The price on the European wholesale market today amounted to more than 62 euros per megawatt hour. Less than a month ago it was still below 41 euros.

The gas price is now also slightly higher than the previous peak in March during the start of the war between America and Iran. Before that war, which started at the end of February, the price was less than 30 euros. This means that the gas price has now more than doubled.

Qatar, the country on the Persian Gulf, is a major gas exporter. But hostilities around the Strait of Hormuz have made exporting that gas more difficult. Gas installations in Qatar were also hit during the war.

Dynamic contract People with a dynamic energy contract in particular notice the increase in the gas price quickly. With such a contract, the gas price is adjusted daily based on the wholesale price. At ANWB Energy, for example, it is currently 1.49 euros per cubic meter.

Before the war started that was 1.15 euros. For people with a dynamic contract, the price will rise less rapidly than the wholesale price. This is because the consumer price consists of a large part of excise duty, which is a fixed amount.

Often permanent contracts For people with a fixed energy contract, the gas price does not increase during the term of their contract. And if you have a variable contract, the gas price often changes two or four times a year. Most households in the Netherlands, about 55 percent, have a permanent contract. About 37 percent have a variable contract and about 8 percent dynamic.