EP NL became TTEP Netherlands. Read more here.
Dutch Power CAL-27 Climbs on Bullish Gas Movement
Short term:
Last week, Dutch power prices averaged 101.4 €/MWh, only 2.5 €/MWh lower week-on-week, reflecting a mixed fundamental outlook. Wind generation declined significantly across both the Netherlands and Germany (down 20–25%), while solar output increased by 40–45%. At the same time, gas prices trended higher, rising by 4.3 €/MWh to an average of 55.4 €/MWh.
At the start of the week, strong wind conditions combined with the lowest gas prices of the week resulted on Monday clearing at 73.3 €/MWh, the weekly low. In contrast, Friday recorded the highest price at 131.4 €/MWh, with hourly prices during the morning and evening peaks reaching approximately 190 €/MWh.
Although higher solar generation suppressed prices during daylight hours, it contributed to slightly elevated evening peak prices, as thermal power plants faced start-up costs to meet demand after solar output declined.
Electricity (€/MWh)
Gas (€/MWh)
Long term:
European gas prices surged last week following missile strikes on Qatar’s Ras Laffan LNG facilities. This led QatarEnergy to declare force majeure, triggering concerns over a potential prolonged disruption to LNG supplies to Europe. The geopolitical shock drove Dutch TTF prices to multi-year highs and introduced a sustained risk premium into the market.
Toward the end of the week, prices eased as immediate supply concerns diminished and weather forecasts turned milder. Nevertheless, the TTF CAL-27 contract increased by 8.8 €/MWh, settling at 45.6 €/MWh. In contrast, the EUA contract declined by 1.4 €/ton to 70.1 €/ton, while the coal CAL-27 contract rose by 5 €/ton to 113.1 €/ton.
The bullish movement in gas markets translated directly into power markets, with the Dutch power CAL-27 contract increasing by 10.6 €/MWh to settle at 99.1 €/MWh.
Weekly changes
Base (€/MWh)
Peak (€/MWh)
Gas (€/MWh)
CO2 (€/MWh)
Sign up for our weekly market report
Enter your details below and receive the weekly market report in your mailbox for free.
Want to know more about us?
Contact us via our contact page or find out more about our company on the about us page.