The gas price rose above 190 euros per megawatt hour on Tuesday for the first time since March on the leading Amsterdam gas exchange.
That is because the Russian state gas company Gazprom announced on Monday that it would supply even less gas to Europe due to extra maintenance on the important Nord Stream pipeline. Germany says it doubts whether this maintenance is the real reason that Gazprom is once again limiting the gas flow.
Gazprom reported that as of Wednesday, only 33 million cubic meters of gas per day will pass through the pipeline. That is about 20 percent of the maximum capacity. Currently, throughput is at 40 percent.
Reducing supply will further exacerbate gas problems in Europe. Germany, in particular, is a major user of Russian natural gas and fears major problems if the supply decreases further.
Other European countries, including the Netherlands, are also concerned about gas shortages when the cold period starts again.
The price of gas rose by 3.9 percent on Tuesday morning compared to Monday. At that time, the gas price also rose by almost 10 percent.
The rising gas price has no immediate consequences for many households. Many people have a permanent contract, which means that a rapid increase in the gas price has no effect for the time being. Anyone who has to sign a new contract soon may notice something.