Gas price above 1.70 euros: heating becomes extremely expensive

Households in the Netherlands are facing significantly higher energy costs as gas prices for new contracts have surged past 1.70 euros per cubic meter. This increase represents a rise of 55 cents since January, impacting consumers as they transition to new fixed or variable energy contracts. Major energy providers, including Vattenfall and Eneco, have adjusted their rates to reflect these rising wholesale costs. Experts suggest the hike is driven by global market tensions and intense international competition for liquefied natural gas supplies, leaving families potentially paying hundreds of euros more per year compared to earlier in 2024.

While energy experts do not expect prices to reach the peak levels seen during the 2023 energy crisis, they anticipate costs will remain elevated until at least next spring. As consumers weigh their options between one-year and multi-year fixed contracts, they are advised to consider their own risk tolerance. While the outlook remains uncertain due to potential geopolitical shifts, households are being urged to carefully review their specific contract terms, as fixed costs and cashback incentives also significantly influence the final financial burden.