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A liquefied natural gas (LNG) tanker arrives at a gas storage station.
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Natural gas prices have surged more than 35% in the past month, as worries grow there is not enough gas stored up for the winter should temperatures be especially cold in the northern hemisphere.

The usually quiet market for the commodity has become hot in the last couple of weeks, as investors focus on the growth in demand around the world and supplies remain below normal. The biggest problem area is Europe, where supply is at a record low for this time of year.

Even in the U.S., the amount of gas in storage is 7.6% below the five-year average, according to recent data from the U.S. Energy Information Administration. Natural gas is an important heating fuel and is responsible for about 35% of power generation in the U.S., the federal agency found.

“People are starting to throw the ‘crisis’ word around” when it comes to Europe, said John Kilduff, partner with Again Capital. He said natural gas in storage in Europe is 16% below the five-year average, and the level in storage is a record low for September.

“Europe is squarely behind the eight ball going into the winter season. It’s going to put the focus on this commodity that’s been overlooked for the last several years,” said Kilduff.

The tipping point could come in several months when it becomes clear what type of winter is ahead for Europe, and also the U.S. Some analysts say in an extreme scenario, U.S. prices could double if there is an extended cold spell, particularly in Europe where shortages could get severe.

“If the winter is mildly cold, it’s going to be problematic for sure,” said Francisco Blanch, head of commodities and derivatives strategy at Bank of America.

Rising prices for natural gas

Natural gas futures for October jumped nearly 5.3% Monday, to about $5.20 per one million British thermal units, or mmBtus. Natural gas is up 106% year-to-date and is the highest in more than seven years. But the equivalent gas in Europe and Asian markets is upwards of $20 per mmBtus.

“The U.S. is supposed to be an island, but in the last three or four years, there’s an increasing link between the U.S. and global market,” Blanch said. “We’ve gone from 50% correlation to 95% correlation. The U.S. market is being dragged around by this.”

The U.S. has been exporting natural gas, in the form of liquified natural gas shipments. The shipments have grown to about 10% of U.S. production, analysts said. South Korea is the largest customer, followed by China and Japan, according to U.S. government data. But buyers also include Brazil India, Poland, Spain, France and Portugal.

“If it’s a cold winter, gas will not just be tight. It will be very tight,” said Daniel Yergin, vice chairman of IHS Markit. If that’s the case, prices could go sharply higher. “It will either be physical shortages, or it will be reflected in price.”

Strategists say for now the world’s gas supply is stretched, but prices could fall if the autumn and early winter are mild, and more gas is put in storage.

“We lean toward a lot of risks for price spikes, rather than higher and higher sustained prices,” said Christopher Louney, commodities strategist at RBC.

Weather patterns and gas demand

Brian Lovern, chief meteorologist at Bespoke Weather, said the U.S. is in a La Niña state, which could mean a warmer than normal October and November in the northern U.S.

Fewer days that require heating could mean more gas will go into inventories before the coldest winter weather.

“I think in a few weeks, the weather is going to give us some bearish headwinds [for natural gas] as we get into the October, November period. That does not mean we won’t see a colder winter,” he said.

Europe’s winter will depend on a weather pattern that sets up over Greenland. “The early indications do not indicate a big cold winter over there,” Lovern said.

The market is anxious about a repeat of last year, when a cold winter in Europe resulted in a larger-than-normal drawdown of gas.

Supplies were not built back up enough in Europe, and analysts said lately Russia had cut back on some exports into Europe. But the new Nord Stream 2 pipeline, bringing natural gas from Russia to Europe, could resolve some of the supply problems for the continent in the next couple of months.

Russia’s Gazprom last week announced completion of the pipeline, which had once been opposed by the U.S. The pipeline would allow Russia to double gas exports to Europe. Germany’s energy regulator Monday said it has four months to complete certification of Nord Stream 2.

Global impact

The situation in Europe has caught the attention of U.S. officials. Amos Hochstein, the U.S. State Department’s senior advisor for energy security, told reporters Friday that he was concerned about supply, and potential shortages if the winter is very cold.

Hochstein said U.S. deliveries of liquified natural gas, known in the industry as LNG, can be increased and Russia is coming off the period of low supply.

“There’s different explanations for what’s going on, why Russian supplies are constrained,” said Yergin. “Russian and German regulators are in a debate as to whether new regulations apply that were put in place after the pipeline was given its final investment decisions.”

Yergin said Asian demand has also been a factor in the short supplies. Chinese liquified natural gas demand was 20% higher than what was anticipated, he said.

TortoiseEcofin’s senior portfolio manager Rob Thummel said Europe also did not get sufficient liquified natural gas cargoes to rebuild its inventories. “What happened was Brazil hydroelectric power didn’t come to fruition,” he said.

“There was drought, so Latin America and Brazil needed natural gas,” Thummel added. During Europe’s summer, “a lot of LNG… ended up in Brazil in particular.”

Supplies in Europe were not replenished, and there was a jump in demand. “Asia and China in particular got nervous. They started buying LNG,” he said.

Thummel said he does not expect a serious problem for the U.S. this winter, and prices could come back down. He said there has been an increase in rig count in the Haynesville shale. “You’re likely to see higher volumes,” he said.

One issue for the U.S. has been lower volumes of shale oil production. A byproduct of that production is natural gas.

“I would say the volatility in U.S. price will not be the same as it has been, and likely will be in Europe,” said Thummel. The amount of gas going into winter is about 8% below the five-year storage average, but “it’s not the end of the world,” Thummel said.

As natural gas prices have jumped, so have the stocks of gas producers, like the largest EQT, Range Resources, and Antero Resources. Investors have also jumped into the United States Natural Fund ETF, which bets on the commodity.

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Podcast: Tesla deliveries, Cybertruck sales shock, Rivian surprises, and more

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January 3, 2025

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Podcast: Tesla deliveries, Cybertruck sales shock, Rivian surprises, and more

electrek podcast

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla’s delivery results, Cybertruck sales being disastrous, Rivian surprises, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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Honda Prologue sales are on fire in the US as 2024 total reaches over 33,000

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January 3, 2025

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Honda Prologue sales are on fire in the US as 2024 total reaches over 33,000

Honda-Prologue-sales-2024

Honda’s electric SUV is taking the US by storm. After another record month in December, Honda Prologue sales in the US reached over 33,000 in total in 2024.

Honda Prologue US sales reach over 33,000 in 2024

Honda set new SUV, hybrid, and EV sales records in the US in 2024. Its first electric SUV, the Prologue, is already significantly impacting brand sales.

With 7,885 Prologue models sold in December, Honda topped its record of around 6,800 set in November. The growth was enough to push total sales to over 33,000 in total in 2024. That’s after Honda began deliveries in March 2024.

During the second half of the year, Honda sold an average of over 5,000 Prologues per month. In November, the electric SUV was the third-top-selling EV in the US, behind only the Tesla Model Y and Model 3.

With nearly 7,900 units sold in December, Honda’s Prologue remained a top seller. Honda’s electric SUV outsold the Hyundai IONIQ 5 with 4,595 units sold. However, the IONIQ 5 remained on top in 2024, with 44,400 models sold.

Honda-Prologue-sales-2024
2024 Honda Prologue Elite (Source: Honda)

Ford doesn’t report monthly sales, but with 51,745 models sold last year, the Mach-E was the second best-selling electric SUV behind Tesla’s Model Y.

After the Mach-E had its best sales quarter with 16,119 in Q4, it will be interesting to see where the rankings stand when EV registration data is released.

Honda-Prologue-sales-2024
2024 Honda Prologue Elite (Source: Honda)

Honda’s luxury Acura brand also set a new US sales record in December. With another 1,848 units sold last month, Acura ZDX sales totaled 7,391 last year.

Powered by GM’s Ultium platform, the same one that underpins new Chevy, Cadillac, and GMC EVs, Honda’s Prologue has a driving range of up to 296 miles.

Honda-Prologue-EV-interior
2024 Honda Prologue Elite interior (Source: Honda)

Although based on the same platform, Honda fine-tuned the electric SUV with its own signature design, features, and drive. An added multi-link front and rear suspension gives the Prologue that “sporty” feel when driving. It also features wireless Apple CarPlay and Android Auto support, something GM has moved away from.


2024 Honda Prologue trim		 Starting Price
(w/o $1,395
destination fee)		 Starting price after
tax credit
(w/o $1,395
destination fee)		 Starting price after
tax credit
(with $1,395
destination fee)		 EPA Range
(miles)
EX (FWD) $47,400 $39,900 $41,295 296
EX (AWD) $50,400 $42,900 $44,295 281
Touring (FWD) $51.700 $44,200 $45,595 296
Touring (AWD) $54,700 $47,200 $48,595 281
Elite (AWD) $57,900 $50,400 $51,795 273
2024 Honda Prologue prices and range by trim

The 2024 Honda Prologue starts at $47,400 and has a range of up to 296 miles. With the $7,500 tax credit, prices drop to as low as $39,900 (not including the destination fee).

Have you seen a Prologue in your area, or do you own one? Let us know what you think of the electric SUV in the comments below.

Are you ready to see why Honda’s electric SUV is stealing the spotlight? We can help you get started. With leases starting as low as $279 per month, it’s no wonder Honda Prologue sales are surging. You can use our link to view offers on the Honda Prologue at a dealer near you today.

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Jackery New Year sale saves up to $3,300 on power stations at new lows, Rad Power e-bike bundles from $1,399, Segway, more

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January 3, 2025

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Jackery New Year sale saves up to ,300 on power stations at new lows, Rad Power e-bike bundles from ,399, Segway, more

Closing out our first week of 2025 Green Deals, we have Jackery’s New Year sale that is taking up to $3,300 off power stations, with some even hitting new low prices, like the Explorer 2000 v2 Portable Power Station that comes bundled with two 200W solar panels for a new $1,499 low, among others. Next, we have Rad Power’s newest sale, which is starting the year off with free extra battery and sports rack e-bike bundles from $1,399. Riding up alongside it is Segway’s New Year sale that is seeing its Ninebot Max G30P KickScooter return to the $600 low we last saw during Black Friday. Lastly, we have a collection of Greenworks lawncare discounts led by the new low on the brand’s 80V 580 CFM Cordless Electric Axial Leaf Blower at $170. Plus, all the other hangover Green Deals can be found in the links at the bottom of the page, like yesterday’s EcoFlow’s New Year sale, Hiboy’s newest S2 SE e-scooter, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Jackery New Year savings drops Explorer 2000 v2 solar generator bundle to new $1,499 low

Jackery’s New Year sale has kicked off its 2025 savings through January 10, with up to $3,300 being taken off its backup power solutions – with some models/bundles even undercutting its Black Friday pricing at new lows. One of these is the new Explorer 2000 v2 Portable Power Station that is coming bundled alongside two 200W solar panels for $1,499 shipped, after clipping the on-page $1,000 off coupon. This solar generator package has been keeping to $2,499 outside of sales, with Black Friday seeing the biggest price cut to $1,599 over 2023. That rate is getting beaten out here by $100, giving you a new all-time low to start the year off with a savings bang. You can also score the power station on its own for $999, after clipping the on-page $500 off coupon.

Jackery’s latest on-the-go backup solution, the Explorer 2000 v2 has been given exclusive CBT tech and a honeycomb build that the brand boasts as “the smallest, lightest home backup power,” providing 2,200W output power surging up to 4,400W to cover devices and appliances alike. It sports a 2,042Wh LiFePo4 battery capacity that dishes out the juice through seven ports. It’s also one of the three latest models that come with the next-generation ChargeShield 2.0 for 62 forms of protection while charging – especially during storms, outages, and so on.

The station’s battery can be recharged in one of four ways, the fastest of which is via a wall outlet that refills 80% of the battery in about 66+ minutes – plus, for last-minute charging, you can activate its supercharge feature to reach a full battery in 102+ minutes. You can also plug it directly to your car’s auxiliary port to recharge to full in 24 hours, or with the two included panels you can get a charge from the sun in 5.5 hours. A notable addition to its systems is the silent charging mode for when you’ve plugged it in for nighttime use or recharging, as it keeps under 30dB so you or anyone else trying to rest won’t be disturbed.

Jackery New Year sale outdoor on-the-go power station deals:

Jackery New Year sale outdoor on-the-go bundle deals:

Jackery New Year sale home backup power station deals:

Jackery New Year sale home backup bundle deals:

Jackery New Year sale accessory deals:

You can browse Jackery’s entire New Year sale – including learning about the brand’s point raffle game to win exclusive prizes – by following the link to the Jackery sale landing page here.

Jackery New Year sale

Rad Power starts 2025 with free extra battery and sports rack e-bike bundles – deals start from $1,399

Rad Power has launched its first sale of 2025 through January 15, with one e-bike seeing a $200 discount and four others (including two new models) following in the fashion of Lectric with free gear worth up to $500 – either the brand’s Hollywood Sports Rack or free extra batteries – accompanying your e-bike purchase. You’ll find the brand’s RadExpand 5 Folding e-bike getting one of the free bonus batteries at $1,599 shipped. We’ve been seeing this model benefitting from up to $400 discounts since October, which is when we last saw it down at its $1,199 low, but this sale seems to be taking the alternative route with savings coming in the form of the free gear, taking $499 off the $2,098 price tag this bundle would normally fetch. Just add the e-bike and its corresponding battery to your cart and the discount will be automatically applied.

Coming in as the brand’s most popular storage-saving model, the RadExpand 5 e-bike sports a folding frame that cuts down its size when not in use to fit within closets, car trunks, RVs, and more. The paired 750W brushless geared hub motor and 672Wh battery top out at 20 MPH speeds with a travel range of 45+ miles normally, but with the extra battery you’ll get 90+ miles. Of course, these higher mileages are possible when utilizing the four pedal assistance levels, with a throttle for pure electric riding at a decreased range.

Among its additional features, you’ll have a 7-speed MicroShift derailleur, a standard LED headlight alongside an integrated taillight that offers brake light functionality, both of which automatically activate when daylight drops low enough. You’ll also get some cargo-hauling support from the integrated rear rack with a 55-pound limit, as well as fenders to go over both wheels, a water-resistant wiring harness, and an LED display.

Rad Power e-bike bundle deals:

  • RadRunner 3 Plus Utility e-bike: $2,199
    • 20 MPH for up to 45+ miles (90+ with extra battery)
    • add both to cart for automatic discount
  • Radster Road Commuter e-bike: $2,199
    • 28 MPH for up to 65+ miles
    • Plus free Hollywood Sport Rider Rack
    • add both to cart for automatic discount
  • Radster Trail Off-Road e-bike: $2,199
    • 28 MPH for up to 65+ miles
    • Plus free Hollywood Sport Rider Rack
    • add both to cart for automatic discount
  • RadWagon 5 Cargo e-bike: $2,399
    • 28 MPH for up to 60+ miles
    • Plus free Hollywood Sport Rider Rack
    • add both to cart for automatic discount

Rad Power e-bike discounts:

Segway Ninebot Max G30P Kickscooter

Segway’s New Year sale drops the Ninebot Max G30P kickscooter with a 40-mile range back at $600 low

Segway is ringing in the new year with an all-new sale through January 5 that is taking up to 40% off its EVs, with some even beating out their Christmas pricing to return to Black Friday/Cyber Monday rates. One such model is the Ninebot Max G30P KickScooter for $599.99 shipped. It usually carries a full $1,000 price tag outside of sales, with the lowest rate we saw it drop to in the last year being $600 during Black Friday. It sat at a much higher $800 during the Christmas season, but you’re getting another shot at Black Friday/Cyber Monday pricing here at 40% off for the lowest price we have tracked, saving you $400. You’ll also find it matching over at Amazon for the time being.

The Ninebot G30P kickscooter is the perfect commuter for folks going long-distance or those wanting to not worry about charging once you’ve arrived at your out-of-home destination. The 350W motor and 36V battery provide top speeds of 18.6 MPH with a travel distance of 40 miles and can easily tackle up to 20% inclines. It comes with the expected folding frame and companion app support alongside other features like an LED display, cruise control, mechanical and electrical anti-lock brakes, front and rear shock absorbers, and even 10-inch self-sealing tubeless tires. On top of all it can do while riding, it also weighs in at just 38.6 pounds, making it easy to carry up stairs and through doors when not in use.

Segway New Year sale e-scooter deals under $300:

Segway New Year sale $301-$500 e-scooter deals:

Segway New Year sale $501+ EV deals:

Greenworks axial leaf blower

Amazon drops Greenworks 80V 580 CFM cordless electric axial leaf blower to new $170 low

Amazon is offering the Greenworks 80V 580 CFM Cordless Electric Axial Leaf Blower for $169.99 shipped. Most of 2024 saw this model keeping between $252 and its $270 MSRP, with it recently keeping down around $230 with the holiday savings. Most discounts over the year dropped costs to $216, though we did spy two falls lower to $207 and $191. Today, the price is getting cut down with a $100 markdown from its full rate, not only giving you the lowest price of the last year but also a new all-time low overall.

While winter may be in full swing, halting many lawncare routines for the time being, it’s also one of the best times to start prepping for spring as prices are brought down on tools and equipment like this axial leaf blower from Greenworks. Its brushless motor delivers up to 580 CFM of air flow that reaches 145 MPH, controlled via the variable speed trigger and even featuring a cruise control functionality. It’s been designed to be “20% lighter than comparable gas blowers,” which pairs with its comfort grip for easier handling – plus, you won’t have to deal with the hassle of stubborn pull cords, gas fumes, and noise anymore. And for folks already building a Greenworks arsenal, the 2.5Ah battery comes interchangeable with over 75 of the brand’s other tool systems, including larger batteries.

Other notable Greenworks deals:

Best ongoing holiday e-bike deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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