ACM: Intensive monitoring of the security of supply, focus on the filling rate of natural-gas storages and the supply of LNG

The price for natural gas on the wholesale market went up sharply this month due to the war in Iran. Because of the closure of the Strait of Hormuz, the supply of liquefied natural gas (LNG) is disrupted. In addition, the production of LNG in Qatar has come to a standstill. These developments have created turmoil and uncertainty on the international natural-gas market. ACM has intensified its oversight over energy suppliers that supply natural gas and electricity to households, and keeps an extra close watch on the availability of contracts and the financial stability of energy suppliers. In addition, ACM sees to it that the trade on the wholesale markets in the Netherlands takes place in a fair manner, and it keeps a close watch on the filling rate of natural-gas storages and the supply of liquefied natural gas (LNG).

ACM’s oversight

ACM monitors the developments on the wholesale markets for energy, and gives the Dutch Ministry of Economic Affairs and Climate (EZK) advice regarding its responsibility for the security of supply of natural gas in the Netherlands. ACM also sees to it that companies that want to utilize the capacity of natural-gas storages are able to gain access to those storages. Last month, ACM imposed a binding course of conduct on Dutch energy company Nederlandse Aardolie Maatschappij (NAM), which owns the storages. From April 1, 2026, NAM is required to offer market participants access on the basis of non-discriminatory, transparent, and objective conditions.
NAM has announced it wishes to close the natural-gas storage in the Dutch town of Norg at some point in the future. This can only be done with the approval of both ACM and the Ministry of EZK. NAM has not yet filed a request with ACM for such approval. If NAM files such a request, ACM will issue a decision, and, in that context, carefully examine the effects on the security of supply.

The filling rate of natural-gas storages

The filling rate of Dutch natural-gas storages has dropped further, and currently stands at approximately nine percent. This is very low for this time of the year. Since the heating season is nearly over, no problems with the security of supply are expected in the short term. However, it is important that natural-gas storages are properly re-filled for the coming winter period. In order to be able to meet the European requirement of 74 percent, the process of filling the natural-gas storages must commence on time after the heating season.

The supply of LNG

Approximately 75 percent of the liquefied natural gas (LNG) imported into the Netherlands comes from the United States. The supply of LNG to the Netherlands is therefore not directly threatened by the war in Iran or by the halted production in Qatar. However, natural-gas prices in Asian countries are currently higher than those in Europe. This means that the Netherlands (along with other European countries) must compete on price with Asian countries to prevent LNG tankers from choosing to unload their cargo in Asia rather than in Europe. This leads to higher prices in the Netherlands and other European countries. The price difference between Europe and Asia, and the price difference between natural gas for summer delivery and natural gas for winter delivery, shows that it is currently not profitable for companies to fill European natural-gas storages. The Dutch public energy company EBN has been tasked with filling the natural-gas storage facilities to 80 TWh, should the market fail to do so on its own. That is approximately 57 percent of the total filling rate of the natural-gas storages.

Strategic natural-gas reserves

Considering the current international developments as well as the developments on the wholesale markets resulting from the former developments, it is wise to think about additional measures to strengthen the security of supply. That is why it is sensible to examine whether and if so, how a strategic natural-gas reserve can contribute to a more robust energy system. ACM is in favor of having further research conducted without delay, and, in that context, taking into consideration the option of using cushion gas, which is the gas that must permanently remain in storage in order to maintain sufficient pressure.

Oversight over consumer prices

In addition to monitoring wholesale prices for natural gas and electricity, ACM also regulates the availability of energy contracts for consumers as well as the prices that consumers must pay for electricity and natural gas. Each month, all energy suppliers are required to submit data for this, so that ACM can show in the Monitor on the consumer energy market what the prices for contracts were on the first day of the month. Since prices have gone up sharply in a short period of time since the start of the war in Iran, this information is no longer up-to-date at the time of publication of the Monitor. That is why ACM will not publish an overview of contracts with significantly higher rates this month. ACM will provide an up-to-date overview of the rates in April as soon as possible after April 1, 2026. In that context, ACM will also state whether suppliers comply with the requirement of offering, in any case, two types of model contracts: a model contract with variable rates and a model contract with a fixed rate for one year. ACM sees that suppliers currently offer a wide range of fixed, variable, and dynamic energy contracts.

See also

• Monitor on wholesale prices and the security of supply of natural gas (in Dutch)
• Monitor on wholesale prices electricity (in Dutch)
• Monitor on the consumer energy market (in Dutch)