2027 Energy Prices Are Climbing — Why the Risk Sits in the Front Year
NeoBid’s market update, dated 9 September 2026, shows a marked rise in power and gas prices for delivery in 2027 since early July. For real estate portfolios, the practical question is whether supply data, contract deadlines and decision processes are ready to support a prompt tender.
Market conditions as of 9 September 2026
The EEX settlement prices analysed by NeoBid Research are €129.75/MWh for power and €59.74/MWh for gas for delivery in 2027. Compared with 3 July, these represent increases of 37.7% for power and 69.4% for gas. The respective increases since 7 August are 25.9% and 46.7%.
The strongest rise is in the front year: the next full delivery year, 2027. Later delivery years have also become more expensive. For 2030, power is 8.7% and gas 18.8% above early July levels. The prices shown decline for later delivery years. This shape of the forward curve is known as backwardation.
Gas for 2027: five observations
The chart shows selected gas prices for 2027: €43.75/MWh on 14 August, €49.03/MWh on 21 August, €48.68/MWh on 24 August, €55.65/MWh on 2 September and €59.74/MWh on 9 September. The increase from the first to the last observation is around 37%. The intermediate values also show that prices did not rise continuously.
These are selected observations at different intervals, rather than a complete series of weekly closing prices. They do not provide a reliable forecast for the next procurement decision.
Distinguish wholesale prices from procurement costs
The figures are wholesale benchmarks. A supply offer also includes costs associated with the consumption profile, contractual flexibility and the supplier’s margin. End-customer prices additionally include grid fees, taxes and levies. A futures price alone is therefore insufficient to assess an offer.
Gas procurement also needs to account for CO₂ costs. According to the European Commission’s current information on ETS2, the new system will become fully operational in 2028. For context, the wholesale price shown of €59.74/MWh is equivalent to approximately 5.97 euro cents/kWh.
What this means for your real estate portfolio
A market snapshot alone does not justify a blanket purchasing decision. Property owners, asset managers and property managers should assess procurement needs, budgets and risk parameters together. Preparing a tender makes it easier to respond to offers within agreed decision rules.
Assess delivery years separately: Lower prices for later years may reduce the average price of multi-year procurement. They do not change the price for delivery in 2027.
Set decision rules: Clarify responsibilities, price targets and approvals before the tender.
Map contract deadlines: Consolidate contract terms, notice periods and unhedged volumes for each supply point.
Prepare the data: Organise consumption and supply-point data so that suppliers can quote on the same basis.
NeoBid combines market data, portfolio strategy and a complete data set in a structured procurement process. Our articles explain the data required for an energy tender and decision rules for rational energy procurement in more detail.
Data sources and reference date
NeoBid Research based on EEX settlement prices for German Power Base and THE Natural Gas Year Futures, as of 9 September 2026. Comparisons refer to 3 July and 7 August 2026. These figures describe that market snapshot and are not live prices. Not investment or trading advice.
Is your portfolio ready to tender for 2027?
Discuss with NeoBid which data, contract deadlines and decisions should be prepared for your next energy tender.
