In March 2026, spot gas crossed EUR 55/MWh, up 83% from EUR 30 just weeks earlier. Spot power followed, up 25% to EUR 100/MWh. Forward gas is now pricing in further uncertainty at EUR 38/MWh, up 41% from EUR 27.
These aren’t temporary blips. They’re structural: driven by gas storage deficits, LNG supply gaps, and power-gas coupling that means your electricity cost is, in practice, a gas cost.

On March 31, AYA hosted a live webinar. Alexandre Indekeu and Baudouin Vervrangen spent 60 minutes breaking down what happened, what it means for your budget, and what you can do about it. Here are the five key takeaways.

1. GAS STORAGE NEEDS 69–80 BCM INJECTION THIS SUMMER, same as in 2025

The structural driver of current prices isn’t sentiment. Europe’s storage levels require injection volumes well above last year’s pace. If that target isn’t met, the risk of a price spike into winter 2026/27 is real. If your 2027 contract coverage wasn’t locked in during 2025, you are now pricing at significantly higher levels.

2. YOUR 4-INVENTORY DIAGNOSTIC TELLS YOU EXACTLY HOW EXPOSED YOU ARE

Before any hedging decision, know your starting position: Site (consumption profile and asset mix) | Contract (type, duration, hedging method in place) | Financial (cap/floor thresholds, stop-loss levels) | Risk (geopolitical exposure, supplier concentration). Without this baseline, hedging decisions are guesswork.

3. YOUR CLICK STRATEGY IS EITHER WORKING FOR YOU OR AGAINST YOU RIGHT NOW

Conservative (spread Y-3 to Y), Balanced (medium-term), or Ambitious (short-term). Critical question: is your stop-loss triggered? If spot prices have moved significantly above your hedged position, your stop-loss protocol should determine your next tranche — not emotion or market commentary.

4. YOUR BATTERIES AND FLEXIBLE ASSETS ARE PROBABLY UNDERPERFORMING

Most industrial operators access only 1–2 of the available revenue markets. Multi-market stacking across day-ahead, intraday, balancing, and capacity = up to €40K/MW/year. The gap exists because most battery contracts were structured around a single revenue stream. If your battery is 100kW–2MW in Wallonia or Flanders, a Battery Revenue Scan takes 30 minutes and shows you exactly what that gap looks like.ion or market commentary.

5. THE 5-STEP ACTION PLAN — WHAT TO DO THIS QUARTER

✓ Assess: understand the market and model your worst-case scenario

✓ Impact: determine how exposed your company is

✓ Click strategy: review yours now, is a stop-loss triggered?

✓ Contracts: map your coverage gaps for 2027 and 2028

✓ Batteries & flex: are your assets working across all available revenue markets?

ABOUT AYA

Belgian energy management company. 150 active clients across W-Europe. 4 TWh electricity + 2 TWh gas under management. 35 energy managers. 15+ years experience. We don’t just advise. We act.