Dutch energy suppliers cut fixed-contract rates as gas prices fall

Many Dutch energy suppliers have lowered the rates on fixed-term household contracts after European gas prices fell from a late-October peak, price-comparison websites Geld.nl and Keuze.nl report.

Geld.nl said 11 of the 16 suppliers it surveyed had cut gas rates. For one-year fixed contracts, the average reduction over the preceding days was 2.9 per cent. The comparison site said longer-term contracts had also become cheaper. Keuze.nl reported that 13 of 16 suppliers had made energy contracts cheaper over the past week.

The European gas price was about €83 per megawatt hour on Tuesday, 10 November, compared with more than €100 at the end of October, according to the report. It said hopes for a swift end to the war in the Middle East had helped bring prices down. The war and disruption to shipping through the Strait of Hormuz had pushed energy costs higher.