BiogasOctober 2026
European Gas Climbs Again While Maize Eases
- Natural gas (TTF)
- 28,50 $/MMBtuup: 12.1%
- low EU storage, scarce Gulf LNG
- World Bank
- Maize
- 226,5 $/tdown: 5.5%
- bigger US crop and stocks
- World Bank
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European Gas Climbs to Its Highest Since 2022
European gas rose by a fifth in September to its highest monthly average since late 2022, maize followed and DAP held at its highest since May 2022, moving both the revenue and the cost side of biogas projects at once.
The month in figures · September 2026
- Natural gas (TTF)
- 25,42 $/MMBtuup: 20.4%
- highest since December 2022
- World Bank
- Maize
- 239,6 $/tup: 7.0%
- tighter harvests, dearer fertiliser
- World Bank
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All three of the market indicators that matter most to biogas producers rose in September, though at very different speeds. Europe's TTF gas benchmark jumped 20.4% in a single month to a monthly average of $25.42/MMBtu, its highest since December 2022 (World Bank, 2026a) and more than double its level a year earlier. Maize climbed 7%, while DAP fertiliser edged up but stayed at its highest level since May 2022, according to the World Bank's October Pink Sheet.
Biogas market indicators, September 2026
Monthly average prices and changes
| Commodity | Unit | Price | Month on month | Year on year |
|---|---|---|---|---|
| Natural gas (TTF) | $/MMBtu | 25.42 | +20.4% | +128.6% |
| Maize | $/t | 239.6 | +7.0% | +21.4% |
| DAP fertiliser | $/t | 800.6 | +0.9% | +2.6% |
Source: World Bank (Pink Sheet, October 2026)
European gas rises for a third month
The Dutch TTF price, which the World Bank uses as its European gas benchmark, averaged $15.17/MMBtu in June. It has risen in each month since: $18.06 in July, $21.11 in August and $25.42/MMBtu in September. A year ago the figure was $11.12/MMBtu, so the annual increase is 128.6%. The third-quarter average of $21.53/MMBtu was 90.7% higher than in the same quarter of 2025.
Scale matters for anyone who remembers 2022. September's average is the highest since December of that year, yet it is only a little over a third of the August 2022 peak of $70.04/MMBtu. The market is not back in crisis territory, but the direction is clear, and the climb has arrived just ahead of the northern hemisphere heating season.
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