Winners Are Those Who Chose Fixed Gas and Electricity Contracts

The recent rise in natural gas prices across Europe is expected to push up February bills for consumers on variable-rate (yellow) gas contracts, as these are directly linked to the European TTF gas futures price. Notably, TTF prices have surged over 30% on the Dutch exchange, with part of this increase likely passed on to retail customers. In contrast, consumers who opted for fixed-term (blue) gas contracts last year—lasting one or two years—are shielded from any price hikes, as those rates were locked in when TTF prices were much lower. For example, in October 2025, fixed-rate contracts ranged between 29.5 and 49 cents, while current blue tariffs range from 28 to 45 cents, remaining stable. Meanwhile, yellow tariffs rose from 30–52 cents in October to 34–54 cents in January, even before the latest price rally. The same principle applies to electricity. However, it’s still unclear whether green (regulated) electricity prices will rise next month, as wholesale power prices in January remain similar to December levels. The final week of the month will determine how suppliers set February’s regulated and variable tariffs. One thing is certain: households and businesses on fixed contracts remain unaffected. Supplier calculations also consider long-term market expectations, not just monthly fluctuations.