The ongoing escalation in the Middle East has pushed gas prices higher still, with a roughly 25 % jump on Tuesday-the second straight day of sharp increases.
Around midday in the European wholesale market, the price for a megawatt‑hour (MWh) of gas to be delivered in April rose to about €59. This level translates into a consumer price of roughly 11 to 13 cents per kilowatt‑hour (kWh) when all ancillary costs and taxes are added. Earlier that morning the price was about €48 per MWh, and the day before the trading started, the price barely exceeded €38 per MWh, corresponding to a consumer rate of about 9 to 11 cents per kWh.
Previously, only about half of the consumer bill came directly from the wholesale price; that proportion is now likely higher. Still, households always pay around 5 cents per kWh to cover grid usage, the gas tax or CO2 tax, and the VAT on those charges.