Gas hits record 97 euros per MWh as suppliers offer fixed-price deals until 31 October

Gas on wholesale markets reached 97 euros per megawatt-hour on Monday 26 October 2026, a record-high level that RTBF Info describes as alarming. Until at least 31 October, consumers can still lock in an energy price that is lower than current variable-contract prices.

According to RTBF Info, energy discounts can add up to more than 600 euros on gas and 450 euros on electricity. In Flanders and Wallonia, Engie offers a discount of 3.1 cents per kilowatt-hour (kWh), bringing its fixed price to 7.285 cents per kWh. RTBF Info says this is well below current prices for variable contracts.

Existing Engie customers can get a 1.7 cent per kWh discount from Eneco, which brings its fixed price to 7.37 cents per kWh. Discounts are generally only granted to new customers, according to the article.

New rules on promotions

Since 1 October 2026, new federal government rules require energy suppliers to apply promotions from the first kWh consumed and for the whole duration of the contract. Promotions can no longer be tied to conditions, such as staying a year with the same supplier or prepaying bills.

Fixed or variable?

A fixed-price contract is more expensive than the rates offered at the start of the year, but it protects against the current price rises. Because promotions no longer depend on staying for the full contract, customers could switch back to a variable contract if wholesale prices fall.

The situation differs in Brussels, where there are very few promotions because of limited competition between energy suppliers. There, locking in the high prices of current contracts is less worthwhile, unless customers fear that markets will keep rising.