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Round bales of straw drying on the field are seen in front of the power station operated by RWE AG near Rommerskirchen, Germany on August 10, 2021. The cost of natural gas and electricity has surged across Europe.
Ying Tang | NurPhoto | Getty Images

LONDON — European power prices have spiraled to multi-year highs on a confluence of factors in recent weeks, ranging from extremely strong commodity and carbon prices to low wind output.

What’s more, the record run in energy prices is not expected to end any time soon, with energy analysts warning market nervousness is likely to persist throughout winter.

The October gas price at the Dutch TTF hub, a European benchmark, was seen to climb to a record high of 79 euros ($93.31) a megawatt-hour on Wednesday. The contract has risen more than 250% since January, according to Reuters, while benchmark power contracts in France and Germany have both doubled.

In the U.K., where electricity bills are now the most expensive in Europe, power prices have soared amid the country’s high dependence on gas and renewables to generate electricity.

British day-ahead electricity prices rose nearly 19% to reach 475 pounds ($656.5) on Wednesday, Reuters reported. The contract was already trading near record highs shortly after a fire at a U.K.-France power link cut electricity imports to Britain.

“By far the biggest factor is gas prices,” Glenn Rickson, head of European power analysis at S&P Global Platts Analytics, told CNBC via email.

Higher gas prices have also been a “big driver” in lifting carbon and coal prices to record highs too, Rickson said, although he noted there are other supporting factors at play, such as low wind generation and nuclear plant unavailability across the continent.

Carbon prices in Europe have nearly trebled this year as the European Union reduces the supply of emissions credits. The EU’s benchmark carbon price climbed above 60 euros per metric ton for the first time ever in recent weeks, trading slightly below this threshold on Thursday.

The EU’s Emissions Trading System is the world’s largest carbon trading program, covering around 40% of the bloc’s greenhouse gas emissions and charging emitters for every metric ton of carbon dioxide they emit. Record carbon prices have made highly polluting sources of energy generation even less attractive because coal, for example, emits more carbon dioxide when burnt.

Rickson said the outlook for European power prices this winter will be “highly dependent” on gas prices, adding that he expects gas prices to rise even further in the coming months. “Aside from the ‘average’ picture, we expect prices to be highly volatile, with swings from low or even negative hourly prices when wind generation is high, to very high prices as already seen when wind is low, and demand is high.”

How did we get here?

European gas prices have accelerated since the start of April, when unseasonably cold weather conditions meant Europe’s gas in storage dipped below the pre-pandemic five-year average, indicating a potential supply crunch.

Europe has since struggled to bring gas supplies that are necessary for the winter period back to where they should be. An economic rebound as countries eased Covid-19 restrictions also coincided with higher-than-expected demand that led to a shortage of gas.

An output filtration facility of a gas treatment unit at the Slavyanskaya compressor station (operated by Gazprom), the starting point of the Nord Stream 2 offshore natural gas pipeline. According to Russia’s Deputy Prime Minister Alexander Novak, the construction of Nord Stream 2 will be completed by the end of this year.
Peter Kovalev | TASS | Getty Images

Further to this, Russia has been seen to slow its delivery of piped natural gas to the region, raising questions about whether this may be a deliberate move to bolster its case for starting flows via Nord Stream 2. The controversial pipeline, bringing natural gas to Europe from Russia, bypassing Ukraine and Poland, is soon expected to be fully operational and could resolve some of the region’s supply problems.

This deficit is “making the market nervous as we approach winter,” Stefan Konstantinov, senior analyst at ICIS Energy, a commodity intelligence service, told CNBC. “That is coupled with the very significant competition for LNG supplies from Asia and South America, which is driving gas prices up.”

Climate crisis concerns

Earlier this month, soaring gas prices and low wind output prompted the U.K. to fire up an old coal power plant to meet its electricity needs.

The move raises serious questions about the government’s environmental commitments amid the climate crisis. To be sure, coal is the most carbon-intensive fossil fuel in terms of emissions and therefore the most important target for replacement in the proposed pivot to renewable alternatives.

When asked how the U.K.’s decision to turn to coal could possibly be squared with the urgent need to dramatically scale down fossil fuel use, Konstantinov replied: “It’s a bit ironic isn’t it?”

Activists march with flags and placards, during the march at Extinction Rebellion’s Nature Protest held in Central London about how nature is in crisis.
Loredana Sangiuliano | SOPA Images | LightRocket | Getty Images

“If there was enough wind, it could maybe meet more than half or two-thirds of U.K. power demand on a relatively low power demand day. But instead what we are seeing is that actually we’ve got no wind and we are forced to fire up polluting coal-fired generation.”

“At first glance, that doesn’t tally up with the government’s ambition to decarbonize. But this is very much driven by the intermittent nature of renewables: both wind and solar,” he added.

The U.K. has committed to phasing out coal power completely by Oct. 2024 to cut carbon emissions.

“The fundamental drivers, i.e. high gas prices and high carbon prices, we at ICIS believe they are here to stay for the coming months,” Konstantinov said.

Analysts at Wood Mackenzie, a global natural resources consultancy, also expect U.K. and European gas prices “to remain elevated at current levels throughout winter.”

“A recovery in UK gas production is critical for this winter,” they added. “And going forward, investment into domestic gas supply remains crucial to ensure a smooth energy transition to renewables and new technologies.”

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This hilarious-looking electric motorcycle just launched after a seven year tease

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This hilarious-looking electric motorcycle just launched after a seven year tease

Back in 2018, when most electric motorcycle startups were showing off what looked like clunky science experiments or budget-minded e-scooters, a little company out of Stuttgart quietly unveiled one of the wildest-looking two-wheelers I’d ever seen. As one of the first motorcycle journalists to cover Sol Motors and their outlandish debut seven years ago, I’ve been keeping tabs on them ever since. And now I am excited to share that the Sol Pocket Rocket is finally preparing to launch in full production form. Yes, really.

The German company is now taking pre-orders for its uniquely tubular electric motorcycle that somehow looks like a mashup between a torpedo, an irrigation pipe, and a Star Wars prop. And yet, despite its cartoonish silhouette, it might just be one of the coolest ultra-urban e-motos headed for the streets.

The Sol Pocket Rocket comes in two versions: the standard model and the more powerful Pocket Rocket S. The latter packs an 8.5 kW (roughly 11.4 hp) electric motor that propels the bike to a top speed of 85 km/h (53 mph), while the standard version tops out at 45 km/h (28 mph), putting it in moped territory in many markets.

That makes it a perfect fit for cities, especially in Europe where light electric mopeds and motorcycles are gaining traction among young riders who want something fast, fun, and emissions-free, but without the size, weight, or cost of a traditional motorcycle. The bike’s 2.5 kWh battery may not sound like much, but the company says it offers up to 108 km (67 miles) of range for the lower speed version or 68 km (42 miles) of range for the higher speed version, which is generally more than enough for most urban commutes. The battery is also removable, allowing for convenient charging inside your apartment or office. That can be a neat trick for riders who charge at work, essentially doubling the maximum range they can commute.

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And while we’re on the topic of design – yes, it’s unusual. The Pocket Rocket’s oversized aluminum top tube houses the battery and electronics, while a minimalist seat juts out from the back like a café racer’s rear hump. There’s no bodywork to speak of, giving it a raw and industrial aesthetic that’s either futuristic or ridiculous, depending on the lighting and your mood. But I’ve got to admit, I kind of love it.

The frame, wheels, and swingarm are all nicely machined, giving the whole thing a premium feel, or at least as premium as a potato gun on wheels can look. It’s like if Bauhaus made a Hot Wheels bike that could run on electrons.

Sol Motors is positioning the Pocket Rocket not just as a stylish e-motorcycle, but as a viable alternative to cars for city dwellers who want to skip traffic and parking headaches. It’s light, fast enough for urban streets, and small enough to squeeze into even the tiniest bike parking spot.

Pre-orders are now open and pricing starts at €5,990 for the standard model and €6,980 for the S version. That’s certainly not cheap, but not outrageous in today’s market for well-designed, European-made electric two-wheelers.

Electrek’s Take

I’ve covered a lot of oddball EVs over the years, but the Sol Pocket Rocket has a special place in my heart. There’s something honest about a company that doubles down on such a bold design and actually makes it work. Sure, it looks like a giant spool holder from the wrong angle, but it also looks like a lot of fun from the right angle! And the fact that it’s fast, fun, and actually headed to production means it offers three things that are far from a guarantee in today’s market.

It may have taken the scenic route and had a false start or two, but it looks like the company is finally ready to put that rubber on the road for good this time.

After nearly seven years of anticipation, I’m thrilled to see this bizarre beauty finally hitting the road. And hey, if anyone wants to send one over for a review, my driveway’s been waiting just as long.

They even have this cool charging stand for topping up the battery in your apartment

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The 2026 Chevy Blazer EV lineup looks a bit different, but prices still start at under $45K

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The 2026 Chevy Blazer EV lineup looks a bit different, but prices still start at under K

Chevy is introducing an updated lineup for the 2026 Blazer EV, including a few slight modifications. Despite the changes, prices will still start at under $45,000.

2026 Chevy Blazer EV prices by trim

GM’s Chevrolet is currently the fastest-growing EV brand in the US. Through May, Chevy sold over 37,000 EVs, surpassing Ford, which sold about 34,000.

Although the Equinox EV stole the spotlight, becoming the third top-selling EV behind Tesla’s Model Y and Model 3, Chevy’s electric Blazer has quiety been driving growth. In April, the Chevy Blazer EV was the sixth-best-selling EV.

With “the Equinnox and Blazer right in the heart of the market, they are really benefitting from that,” Tom Libby, an analyst at S&P Global Mobility, explained.

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With the 2026 model years arriving with a few updates, Chevy looks to continue closing the gap with Tesla. Earlier this month, the 2026 Chevy Silverado EV configurator went live with base prices about $10,000 cheaper than the outgoing model. Now, it looks like the electric Blazer will be next.

2026-Chevy-Blazer-EV
2025 Chevy Blazer EV SS (Source: Chevrolet)

New order guide data show the 2026 Chevy Blazer EV LT FWD will still start at $44,600, not including the destination fee. The 2026 model year will be available in FWD, AWD, and performance AWD configurations. However, Chevy is dropping the RWD option.

Although the base LT model is priced the same, the 2026 Chevy Blazer RS AWD is $500 more than last year’s model, starting at $50,400.

-2026-Chevy-Blazer-EV
Chevy Blazer EV RS (Source: GM)

The 615 horsepower Blazer EV SS, the quickest SS Chevy vehicle to date, will still start at $60,600. Like the 2025MY, GM’s Super Cruise is standard on the SS and available for other trims. It costs $3,255 this year, the same as it did in 2025.

Other upgrades for the new model include a new Polar White Tricoat paint option and a standard dual-level charging cord, but it still lacks a NACS port.

2026-Chevy-Blazer-EV-prices
Chevy Blazer EV SS interior (Source: GM)

A Chevy spokesperson confirmed to Car and Driver last month that “To simplify the product lineup while still offering the most popular options for consumers, RWD will not be available beginning with the 2026 model year.”

Up next will be the 2026 Chevy Equinox EV, or “America’s most affordable 315+ mile range EV,” as GM calls it. The base 2025 LT model starts at $34,995. Chevy keeping entry-level Blazer prices the same could be a good sign for the Equinox.

2026 Chevy Blazer EV trim Starting MSRP* Range
(*2025MY EPA-estimated)
LT FWD   $44,600 312 miles
RS FWD   $50,400  312 miles 
SS AWD $60,600 303 miles
2026 Chevy Blazer EV prices by trim (*Does not include destination fee)

With the federal EV tax credit set to expire at the end of September, Chevy is offering some serious savings opportunities. Starting at just $289 per month, the 2025 Equinox EV is hard to pass up. GM is also offering 0% APR across all 2025 Equinox EV, Blazer EV, and Silverado EV models.

Ready to test one out for yourself? You can use our links below to find deals on Chevy EV models at a dealer near you.

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Tesla’s penis-shaped Robotaxi expansion illustrates how unserious the business is

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Tesla's penis-shaped Robotaxi expansion illustrates how unserious the business is

Tesla has expanded the service area of its Robotaxi service in Austin, and it did so to draw a penis-shaped service map, seemingly for no other reason than to satisfy the juvenile humor of its CEO, but what it really achieved is to illustrate how unserious Tesla’s Robotaxi business is compared to other efforts.

Last month, Tesla launched its Robotaxi service in Austin, Texas, and as expected, the service was mostly for show and to give CEO Elon Musk a win after years of failed predictions regarding Tesla’s self-driving efforts.

The service was launched only for a small group of Tesla stock promoters on X, and it required a Tesla employee sitting in the front seat with a finger on a kill switch at all times.

In other words, it’s basically Tesla’s Supervised Full Self-Driving (FSD) in consumer vehicles, but with the supervisor moved from the driver’s seat to the front passenger seat.

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Tesla also launched into a small area of South Austin, but last week, Musk said that the company would expand the service area by the weekend.

Late on Sunday, Tesla did update the service area, and it now looks like this:

There’s no practical reason to cover this specific section of Austin. The update appears to be solely to satisfy Musk’s famously juvenile sense of humor, which includes fascinations with the numbers “69” and “420”.

Tesla has also been offering rides in Robotaxi (invite-only) for $4.20 a ride.

In practice, what this joke does is illustrate just how unserious Tesla’s Robotaxi effort is in comparison to other autonomous ride-hailing programs.

Waymo already operates a larger area of Austin, and it does so without any supervisor inside the vehicle. It also operates in San Francisco, the Bay Area, Los Angeles, and Phoenix:

Tesla shareholders are holding on to the hope that Tesla will be able to scale faster, but Waymo has even launched in Atlanta since Tesla launched its limited service in Austin, and they are preparing to launch in Philadelphia and New York.

Meanwhile, Tesla still operates with supervisors inside its vehicles – a step that Waymo completed years ago.

Electrek’s Take

Look, I love a joke as much as the next guy, but when the whole service is a joke, maybe don’t draw a penis with the service map.

In China, I rode in Baidu’s Apollo Go, and it simply works without anyone in the car, and it is in operation in half a dozen cities.

It’s cool to see Tesla making progress here, but what’s less cool is the moving of the goalpost that leads to people forgetting that Tesla has promised unsupervised self-driving in all vehicles built since 2016.

Meanwhile, its progress has yet to outpace competition and CEO Elon Musk is out there claiming Tesla is the leader in self-driving with no close second.

It’s a level of delusion that you don’t want to see in someone deploying “self-driving” 5,000-lb machines moving at high speeds on public roads.

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