How to use the energy price converter
Energy markets quote prices in a confusing mix of units: European gas in €/MWh, British gas in pence per therm, American and Asian gas in dollars per million BTU, oil in dollars per barrel, coal in dollars per tonne and electricity bills in cents or pence per kWh. Enter any price, pick its unit, set the exchange rates, and the converter expresses it in all 17 units at once. A chart places your price next to typical recent levels of the main benchmarks (TTF, NBP, Henry Hub, JKM LNG, Brent crude, API2 coal and European baseload power), all on the same €/MWh scale.
For fuels, an advanced section turns the price into the fuel and carbon cost of generating one MWh of electricity at a chosen power-plant efficiency and carbon price.
The formulas
1 MMBtu = 0.293071 MWh 1 therm = 0.029307 MWh 1 boe = 5.8 MMBtu = 1.700 MWh 1 toe = 11.63 MWh 1 t coal (6,000 kcal/kg) = 6.978 MWh Generation cost = fuel €/MWh ÷ η + carbon €/t × t CO₂ per MWh fuel ÷ η
Worked example: TTF at 35 €/MWh
The default converts 35 €/MWh with EUR/USD 1.16 and EUR/GBP 0.87:
- 3.5 euro cents per kWh of gas
- 35 × 1.16 × 0.29307 = 11.90 $/MMBtu
- 35 × 0.87 = 30.45 £/MWh × 2.9307 = 89.2 p/therm
- 11.90 $/MMBtu × 5.8 = 69 $ per barrel of oil equivalent
- In a 55%-efficient CCGT: fuel cost 63.6 €/MWh of electricity, plus 25.7 €/MWh of carbon at 70 €/t
Conversion factors between price units
| 1 unit of… | €/MWh (at 1.16 $/€, 0.87 £/€) |
|---|---|
| 1 €/MWh | 1 |
| 1 c/kWh (euro cent) | 10 |
| 1 €/GJ | 3.6 |
| 1 $/MMBtu | 2.94 |
| 1 $/GJ | 3.10 |
| 1 $/boe | 0.507 |
| 1 $/tonne coal (6,000 kcal) | 0.124 |
| 1 p/therm | 0.392 |
| 1 £/MWh | 1.149 |
| 1 p/kWh | 11.49 |
Benchmark prices on one scale
| Market | Quoted as | Illustrative level | ≈ €/MWh |
|---|---|---|---|
| TTF (EU gas) | €/MWh | 35 | 35 |
| NBP (UK gas) | p/therm | 85 | 33 |
| Henry Hub (US gas) | $/MMBtu | 3.2 | 9.4 |
| JKM (Asian LNG) | $/MMBtu | 12 | 35 |
| Brent crude | $/bbl | 75 | 38 |
| API2 coal (ARA) | $/t | 110 | 13.6 |
| EU baseload power | €/MWh | 80 | 80 |
Benchmark levels are rounded recent values for orientation only; check an exchange or price reporting agency for live prices.
Tips and pitfalls
- Use the right exchange rate: the ECB reference rate for the date of the price, or the forward rate for futures.
- Gross vs net. Gas hubs trade on gross calorific value; oil and coal statistics are often net. Mixing them distorts comparisons by up to 11%.
- Energy vs electricity. A €/MWh gas price is per MWh of fuel; divide by efficiency to compare with power prices.
- Retail is different. Household prices include network charges, levies and VAT that can double or triple the commodity cost. Use the kWh cost calculator for bills.
- Long-run cost of new plants is better captured by the LCOE calculator.
Limitations
The converter assumes fixed conventional energy contents (5.8 MMBtu per barrel, 6,000 kcal/kg net-as-received coal); individual crude grades and coal qualities differ. Exchange rates are your input, and benchmark values are illustrative, not live market data.
Method & assumptions
Each price is first converted to euros per MWh of energy: value × (unit energy per MWh) ÷ exchange rate, then back to every other unit. Electricity generation cost = fuel price ÷ efficiency + carbon price × fuel CO₂ intensity ÷ efficiency (the "clean spark/dark spread" logic).
Frequently asked questions
How do I convert €/MWh to $/MMBtu?
How do I convert p/therm to €/MWh?
How do I convert $/MMBtu to cents per kWh?
What is the oil-equivalent price of gas?
Are gas prices quoted on HHV or LHV?
How do I estimate the cost of generating electricity from a gas price?
Sources & references
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