Eneco raises gas prices to record levels in the Netherlands

Energy provider Eneco has implemented a significant price increase for new customers with variable contracts. As of October 24, the price for gas has reached €2.010 per m³, up from €1.842 on October 1. This increase, driven by rising European gas market prices, means a household consuming 900 m³ of gas and 2,300 kWh of electricity could face annual costs €239 higher than at the start of the month.

The price hike affects various contract types at Eneco. For one-year fixed contracts, the rate rose from €1.748 to €1.899 per m³, while three-year fixed contracts increased from €1.585 to €1.721 per m³. Existing customers on variable contracts are not immediately affected by the new rates, as providers are required to give at least one month's written notice before changes take effect.

This surge follows a period of volatility on the gas exchange, where prices reached their highest levels since December 2022. Unlike in April 2023, there is currently no government price cap in place to mitigate these costs for consumers.