Energy · World Bank monthly average
What is the European natural gas (TTF) price and how has it changed?
European natural gas (TTF) averaged 25.42 US dollars per million British thermal units in September 2026, according to the World Bank Pink Sheet. That is 20.4% above Aug 2026 and 128.6% above Sept 2025, and in the top tenth of all monthly averages since January 2000.
- Sept 2026 average
- 25.42$/mmbtu · US dollars per million British thermal units
- Month on month
- ▲ +20.4%from 21.11 in Aug 2026
- Year on year
- ▲ +128.6%from 11.12 in Sept 2025
- 12-month range
- 9.48–25.42low Dec 2025 · high Sept 2026
The last five years
What the record shows
- Over five years the price ranged from 8.15 (Feb 2024) to 70.04 (Aug 2022). Sept 2026 sits 28% of the way from that low to the high.
- Since January 2000 the record high is 70.04 (Aug 2022) and the low 1.58 (May 2020). The latest month is higher than 95% of the 321 monthly averages in that span, in nominal dollars (not adjusted for inflation).
- The highest full-year average since 2000 was 2022 (40.34); the lowest was 2002 (3.05).
- Annualised volatility of monthly changes over the past five years was 68.4%, higher than the 40.6% for the whole record since 2000. Monthly averages smooth out intra-month swings, so daily markets move more than this.
- Five years earlier, in Sept 2021, the average was 22.84: the price is 11.3% above that level.
Yearly averages
| Year | Average | vs prior year | Highest month | Lowest month |
|---|---|---|---|---|
| 2026 9 mo. | 16.92 | ▲ +41.4% | 25.42 Sep | 11.24 Feb |
| 2025 | 11.96 | ▲ +9.1% | 15.34 Feb | 9.48 Dec |
| 2024 | 10.96 | ▼ −16.4% | 13.93 Nov | 8.15 Feb |
| 2023 | 13.11 | ▼ −67.5% | 20.18 Jan | 9.55 Jul |
| 2022 | 40.34 | ▲ +150.3% | 70.04 Aug | 27.23 Feb |
| 2021 | 16.12 | ▲ +397.0% | 38.03 Dec | 6.13 Mar |
| 2020 | 3.24 | ▼ −32.5% | 5.86 Dec | 1.58 May |
| 2019 | 4.80 | ▼ −37.5% | 7.26 Jan | 3.59 Jun |
| 2018 | 7.68 | ▲ +34.4% | 9.52 Sep | 6.66 Jan |
| 2017 | 5.72 | ▲ +25.3% | 7.14 Dec | 4.89 Jun |
| 2016 | 4.56 | ▼ −33.1% | 5.69 Nov | 3.91 Mar |
| 2015 | 6.82 | ▼ −32.1% | 9.25 Jan | 5.09 Dec |
| 2014 | 10.05 | ▼ −14.7% | 11.59 Jan | 8.90 Nov |
| 2013 | 11.79 | ▲ +2.7% | 12.88 Apr | 11.25 Sep |
| 2012 | 11.47 | ▲ +9.1% | 11.97 Mar | 11.08 Sep |
| 2011 | 10.52 | ▲ +26.9% | 11.53 Dec | 9.36 Feb |
| 2010 | 8.29 | ▼ −4.9% | 8.93 Mar | 7.27 May |
| 2009 | 8.71 | ▼ −35.0% | 13.89 Jan | 6.67 Jul |
| 2008 | 13.41 | ▲ +56.7% | 15.93 Oct | 10.70 Jan |
| 2007 | 8.55 | ▲ +1.0% | 9.49 Dec | 7.98 May |
| 2006 | 8.47 | ▲ +33.9% | 8.99 Nov | 7.95 Feb |
Since January 2000
Largest one-month moves since 2000
| Month | From | To | Move |
|---|---|---|---|
| Mar 2026 | 11.24 | 17.91 | ▲ +59.3% |
| Aug 2020 | 1.80 | 2.86 | ▲ +58.9% |
| Mar 2022 | 27.23 | 42.39 | ▲ +55.7% |
| Jul 2022 | 33.56 | 51.33 | ▲ +52.9% |
| Sept 2021 | 15.43 | 22.84 | ▲ +48.0% |
What exactly is being priced?
Natural gas (Europe): Netherlands Title Transfer Facility (TTF) from April 2015; before that an average import border price with a spot component. The World Bank publishes the series as a monthly average in US dollars per million British thermal units ($/mmbtu). Benchmark definitions occasionally change, as noted above, so very long comparisons mix slightly different contracts. See commodity price units explained for converting units.
Sources
- World Bank Commodity Price Data (The Pink Sheet), monthly prices workbook (updated October 02, 2026; retrieved 16 Oct 2026). Licensed CC BY 4.0.
- Method for changes, ranges and volatility: methodology.