Dutch Power Financial Price Trend and Forecast 2026-2027

The Netherlands recorded the highest front year power futures price in Q3 2026: EUR 142.00/MWh, up 1.5% from EUR 139.90/MWh in Q2. Gas fired generation, carbon allowance costs and steady hedging demand from utilities and industry keep Dutch prices above the other three markets. Worldwide, the average rose 1.4% to EUR 129.00/MWh from EUR 127.23/MWh, mostly because higher gas and carbon allowance prices and firm hedging demand from utilities and industrial users led traders to raise offers in all four markets. What about Q4 2026? We expect a global average somewhere in the EUR 125.77-136.09/MWh range, with gas prices at the Dutch hub, carbon allowance prices, hedging demand from utilities, trading volumes and winter weather forecasts doing most of the work.

Dutch power financial refers to cash settled power futures and forward contracts tied to the Dutch baseload price and traded on exchanges and in over the counter markets. Utilities, industrial users, banks and trading firms use them to lock in prices and manage risk without taking physical delivery. Prices in this report refer to the front year baseload contract and are quoted in euros per megawatt hour. They depend on gas and carbon allowance prices, expected wind and solar output and hedging demand.

Contracts cover months, quarters and years ahead, and most trading is in the front month, the next quarter and the next calendar year. Exchanges clear the trades, and participants post margin against price moves. Gas prices at the Dutch hub and carbon allowance prices are the main drivers, because gas fired plants set the power price in many hours. Hedgers buy ahead of the winter, while the traders adjust positions as weather forecasts and plant outage news come in.

Dutch Power Financial Price Forecast for 2026

Prices should rise modestly through the rest of 2026. Gas and carbon allowance prices are firm and hedging demand ahead of the winter is steady. Strong wind and solar output limits the size of the increase. Year on year, the global average has moved from EUR 123.37/MWh to EUR 129.00/MWh, an increase of 4.6%.

Risks to the Q4 outlook lean in both directions, with no clear bias. What could push prices higher? Higher gas prices, higher carbon allowance prices, a cold winter forecast or low wind output would lift prices. What could pull them lower? Lower gas and carbon allowance prices, strong wind output or a mild winter forecast would lower prices.

For the Quarter Ending September 2026

Dutch Power Financial Prices Q3 2026:

• France: EUR 112.00/MWh
• Germany: EUR 127.00/MWh
• Belgium: EUR 135.00/MWh
• Netherlands: EUR 142.00/MWh

Dutch Power Financial Prices in France

In Q3 2026, the average price in France rose 1.6% to EUR 112.00/MWh, compared with EUR 110.24/MWh in Q2. French prices rose as the demand from hedgers improved. In Q3 2025 the average was EUR 106.43/MWh, so the market is 5.2% higher on a yearly basis. France finished Q3 2026 13.2% below the four-market average of EUR 129.00/MWh.

Why did the price of Dutch Power Financial change in Q3 2026 in France?

France rose. Demand from hedgers improved, gas prices increased, and traders raised offers. This leaves France 3.7% higher than at the end of 2025, when the average was EUR 107.96/MWh, while the global average is 3.3% higher over the same period. Across the four markets the average was 1.4% higher on the quarter.

Dutch Power Financial Prices in Germany

Germany's average moved up 1.3% in Q3 2026, to EUR 127.00/MWh from EUR 125.37/MWh in Q2. German prices rose as the demand from utilities improved. This represents a 4.4% increase on the EUR 121.68/MWh recorded in Q3 2025. The four markets averaged EUR 129.00/MWh in the quarter, so the price in Germany was 1.6% lower.

Why did the price of Dutch Power Financial change in Q3 2026 in Germany?

Germany rose. Demand from utilities improved, carbon allowance prices increased, and traders raised offers. From EUR 123.14/MWh at the close of 2025 to EUR 127.00/MWh in Q3 2026, the price in Germany has risen 3.1%, and the global average has risen 3.3%. On the global measure the average was 1.4% higher over the quarter.

Dutch Power Financial Prices in Belgium

Prices in Belgium firmed 1.2% in Q3 2026 to EUR 135.00/MWh, compared with EUR 133.40/MWh in Q2. Belgian prices rose as the demand from industrial hedgers improved. The year-on-year change is a 3.8% increase, from EUR 130.03/MWh in Q3 2025. In comparison with the average of EUR 129.00/MWh across the four markets, the price in Belgium was 4.7% higher.

Why did the price of Dutch Power Financial change in Q3 2026 in Belgium?

Belgium rose. Demand from industrial hedgers improved, gas prices increased, and traders raised offers. Across the first three quarters of 2026, Belgium has moved up 2.8% from EUR 131.29/MWh in Q4 2025 to EUR 135.00/MWh, against a 3.3% gain for the global average. For comparison, the global average moved 1.4% higher over the same quarter.

Dutch Power Financial Prices in Netherlands

The Netherlands recorded a 1.5% gain in Q3 2026, with the average reaching EUR 142.00/MWh against EUR 139.90/MWh in Q2. Dutch prices rose as the demand from utilities and industrial hedgers improved. The Q3 2026 average is 4.9% above the EUR 135.34/MWh recorded in Q3 2025. The Netherlands ended the quarter 10.1% above the group average of EUR 129.00/MWh.

Why did the price of Dutch Power Financial change in Q3 2026 in Netherlands?

The Netherlands rose. Demand from utilities and industrial hedgers improved, gas prices increased, and traders raised offers. Year to date, the Netherlands is 3.4% higher than the Q4 2025 level of EUR 137.28/MWh, while the global average is 3.3% higher. The global average shifted 1.4% higher in the same quarter. The Netherlands moved 1.5% quarter on quarter.

For the Quarter Ending June 2026

Dutch Power Financial Prices Q2 2026:

• France: EUR 110.24/MWh
• Germany: EUR 125.37/MWh
• Belgium: EUR 133.40/MWh
• Netherlands: EUR 139.90/MWh

Dutch Power Financial Prices in France

France recorded a 1.2% gain in Q2 2026, with the average reaching EUR 110.24/MWh against EUR 108.93/MWh in Q1. French prices rose as the demand from hedgers strengthened. Against the EUR 103.99/MWh recorded in Q2 2025, the current average represents a 6.0% increase. Relative to the four-market average of EUR 127.23/MWh, France traded 13.4% below in Q2 2026.

Why did the price of Dutch Power Financial change in Q2 2026 in France?

France rose. Demand from hedgers strengthened, gas prices went up, and traders lifted offers. Q1 had brought a 0.9% gain, and by the end of Q2 the price was 6.0% above the Q2 2025 average of EUR 103.99/MWh. The move then extended in Q3, taking the price to EUR 112.00/MWh. The global average shifted 1.0% higher in the same quarter.

Dutch Power Financial Prices in Germany

The Q2 2026 average for Germany stood at EUR 125.37/MWh, an increase of 1.0% on the EUR 124.13/MWh recorded in Q1. German prices rose as the demand from utilities strengthened. The Q2 2025 average of EUR 119.33/MWh puts the current price 5.1% above its level a year earlier. This places Germany 1.5% below the four-market average of EUR 127.23/MWh for Q2 2026.

Why did the price of Dutch Power Financial change in Q2 2026 in Germany?

Germany rose. Demand from utilities strengthened, gas prices went up, and traders lifted offers. Coming after a 0.8% gain in Q1, the Q2 figure sits 5.1% above the EUR 119.33/MWh of Q2 2025. The same direction continued in Q3, with the price reaching EUR 127.00/MWh. Across the four markets the average was 1.0% higher on the quarter.

Dutch Power Financial Prices in Belgium

Belgium registered a 0.9% increase in Q2 2026, taking the average to EUR 133.40/MWh from EUR 132.21/MWh in Q1. Belgian prices rose as the demand from hedgers strengthened. Year on year, the average is 4.2% higher, against EUR 128.01/MWh in Q2 2025. Against the four-market average of EUR 127.23/MWh, Belgium stood 4.8% above in the quarter.

Why did the price of Dutch Power Financial change in Q2 2026 in Belgium?

Belgium rose. Demand from hedgers strengthened, gas prices went up, and traders lifted offers. The 0.7% gain in Q1 set the base, and Q2 finished 4.2% above the EUR 128.01/MWh recorded a year earlier. Q3 added to the change, with the price at EUR 135.00/MWh. On the global measure the average was 1.0% higher over the quarter.

Dutch Power Financial Prices in Netherlands

The Netherlands rose 1.1% to EUR 139.90/MWh in Q2 2026, from EUR 138.38/MWh in Q1. Dutch prices rose as the demand from utilities strengthened. The current level is 5.8% above the Q2 2025 average of EUR 132.23/MWh. The Netherlands finished Q2 2026 10.0% above the four-market average of EUR 127.23/MWh.

Why did the price of Dutch Power Financial change in Q2 2026 in Netherlands?

The Netherlands rose. Demand from utilities strengthened, carbon allowance prices went up, and traders lifted offers. This followed a 0.8% gain in Q1 and left the Netherlands 5.8% above its Q2 2025 average of EUR 132.23/MWh. The move then extended in Q3, taking the price to EUR 142.00/MWh. For comparison, the global average moved 1.0% higher over the same quarter.

Quarterly Dutch Power Financial Price Trends

Dutch Power Financial prices rose through 2025 and the first half of 2026 and rose again in the third quarter in all four markets. The global average moved from EUR 118.72/MWh in Q1 2025 to 120.89 in Q2, 123.37 in Q3 and 124.92 in Q4, then 125.91 in Q1 2026, 127.23 in Q2 and 129.00 in Q3, a net gain of roughly 8.7% across the window. Higher gas and carbon allowance prices and steady hedging demand from utilities lifted prices for six quarters.

What was Dutch Power Financial Price in 2025?

2025 was a year of steady increases for Dutch financial power, with prices rising in each quarter in all four markets. Starting near EUR 118.72/MWh in Q1, the global average finished the year at 124.92 in Q4, a gain of about 5.2%. Higher gas and carbon allowance prices and steady hedging demand from utilities supported traders throughout the year.

Dutch Power Financial Prices in France in 2025

In France, prices moved from about EUR 101.85/MWh in Q1 2025 to EUR 107.96/MWh by Q4, up roughly 6.0%. French prices rose steadily as gas prices and demand from hedgers increased. By Q3 2026 the average for France had reached EUR 112.00/MWh, 3.7% above the Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.

Dutch Power Financial Prices in Germany in 2025

In Germany, prices moved from about EUR 117.28/MWh in Q1 2025 to EUR 123.14/MWh by Q4, up roughly 5.0%. German prices rose gradually as gas prices and demand from utilities increased. The latest quarter places Germany at EUR 127.00/MWh, which is 3.1% above the level at which 2025 ended. The quarterly sections above show how the annual average developed over the year.

Dutch Power Financial Prices in Belgium in 2025

In Belgium, prices moved from about EUR 126.24/MWh in Q1 2025 to EUR 131.29/MWh by Q4, up roughly 4.0%. Belgian prices rose gradually as gas prices and demand from hedgers increased. Since the 2025 close of EUR 131.29/MWh, the price in Belgium has moved up 2.8%, reaching EUR 135.00/MWh in Q3 2026.

Dutch Power Financial Prices in Netherlands in 2025

In the Netherlands, prices moved from about EUR 129.51/MWh in Q1 2025 to EUR 137.28/MWh by Q4, up roughly 6.0%. Dutch prices rose steadily as carbon allowance prices and demand from utilities increased. At EUR 142.00/MWh in Q3 2026, the Netherlands stands 3.4% above its Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.

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We keep a continuous eye on Dutch financial power prices across the linked markets, tracing causation through Dutch hub gas prices, carbon allowance prices, wind and solar output forecasts, trading volumes and hedging demand from utilities and industry. Our forecasts draw on production data, trade flows, input cost trends and demand indicators across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.