Key Question
How is Germany's largest green energy retailer protecting its customers from winter gas prices?
Timeline for LichtBlick
#11 19 May
Received 2.2 TWh/year Norwegian gas from Equinor via Eneco from April 2026
European Energy Markets: Equinor locks in five-year retail stripBackground
LichtBlick is the German retail vehicle whose gas supply book was hedged by Eneco's five-year strip with Equinor in May 2026. With 1.5 million customers, LichtBlick's hedge reflects how Germany's largest Independent green retailer is managing forward risk on a €47-50/MWh TTF reference.
Common Questions
What is LichtBlick and how many customers does it have in Germany?
LichtBlick is Germany's largest Independent green energy retailer, founded in Hamburg in 1998, with over 1.5 million customers. It is owned by the Dutch energy company Eneco.Source: LichtBlick official
How is LichtBlick hedging its gas supply for winter 2026?
Parent company Eneco signed a five-year gas supply strip with Equinor at approximately €47-50/MWh TTF in May 2026, locking in forward gas supply for LichtBlick's retail book.Source: european-energy-markets briefing
Who owns LichtBlick?
LichtBlick is owned by Eneco, a Dutch integrated energy company acquired by Mitsubishi Corporation and Chubu Electric Power in 2020.Source: Eneco / LichtBlick official
How the World Sees Them
Eneco (parent)
LichtBlick is Eneco's entire German retail exposure; the five-year Equinor strip locks in procurement cost certainty for the book against a winter supply picture that remains unresolved.
German retail customers
LichtBlick customers' gas tariffs are partially shielded by the Equinor strip, but pass-through timelines and hedge structure determine how much of the protection reaches the household bill.
German retail energy market
LichtBlick's strip is the largest independent retailer hedging decision in May 2026; competitors with smaller books and shorter hedges face more spot exposure heading into winter.
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 May 2026. Editorial standards.