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The latest data shows that the EU’s overall storage levels are at an average of nearly 94% full.

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European gas prices may have dropped to levels not seen in more than four months, but this is far from being the end of the energy crisis, four industry analysts told CNBC.

The Dutch Title Transfer Facility (TTF) is Europe’s main benchmark for natural gas prices. Russia’s invasion of Ukraine and the subsequent pressures on Europe’s energy mix have pushed natural gas prices to trade at historic levels back in August — above 340 euros per megawatt hour. However, these have significantly come down since then, ending Thursday’s session at 108.5 euros per megawatt hour.

In addition, intraday European gas prices even went negative at the start of the week — meaning that holders of natural gas paid buyers to take the cargo off their hands.

“With gas storage near full, LNG inflows in oversupply and favourable mild autumn weather, prices are doing the work to keep the system balanced as commodities trade in the present,” Ehsan Khoman, head of commodities research at MUFG Bank, told CNBC via email.

The latest data compiled by industry group Gas Infrastructure Europe shows that the EU’s overall storage levels are at an average of nearly 94% full. That’s comfortably above the 80% target the bloc had set for countries to reach by the start of November.

EDP CEO: 'Expect the unexpected' with gas prices

Some of the LNG (liquefied natural gas) orders made during the summer are arriving now, when storage is full, representing an oversupply. Temperatures in the region have also been unusually warm, with some nations currently experiencing 20 degree Celsius (68 degrees Fahrenheit) heat.

Nikoline Bromander, analyst at consultancy Rystad Energy, said high output from wind power and political agreement within the EU on cooperative measures to reduce gas prices and consumption have contributed to lowering gas prices.

But Europe’s energy crisis isn’t over, and analysts are warning European policymakers against complacency.

Europe ‘not out of the woods’

“The temptation in Europe will be to take a sigh of relief and acknowledge the hard work and tough decisions on demand and supply that have been taken,” Bromander said in a research note.

“However, a series of factors – from Asian demand for LNG potentially increasing to a lack of sufficient regasification facilities in Europe means that decision makers may feel the pressure sooner rather than later.”

One of the big question marks is what will happen to LNG demand when China fully reopens its economy. Beijing has been the biggest buyer of LNG in the world, but its zero-Covid policy has prevented its economy from operating at full capacity. If this dynamic changes in the coming months, there will be more competition for the commodity and prices could spike.

Even if this winter ends up being mild, next winter also remains a supply concern.

Tom Marzec-Manser

head of gas analytics at ICIS

Henning Gloystein, director for energy at consultancy firm Eurasia Group, told CNBC that “the current glut shouldn’t be seen as a signal though that the upcoming winter might not see energy shortages.”

“Given there’s virtually no Russian gas available in Europe, supply is tight. Once it gets cold, inventories will draw down. If there’s a late winter cold snap when stocks have been reduced, thigs could get pretty tight in early 2023, meaning possible price spikes and potential energy shortages,” Henning said, adding that “it’s therefore still very important for industry and households to try to reduce consumption.”

Tom Marzec-Manser, head of gas analytics at energy consultancy ICIS, reaffirmed the point that that weak gas prices in recent days should not be interpreted as a sign that Europe is now out of the woods when it comes to managing the lost flows from Russia.

Before Russia’s invasion of Ukraine, the EU was obtaining about 40% of all its natural gas from Moscow. That has now fallen below 10%.

“Forward pricing indicates that high prices will soon return: ICIS data shows gas for delivery in January is more than four times the price of spot gas at the TTF,” Marzec-Manser told CNBC via email.

Europe has in recent months endured a sharp drop in gas exports from Russia, traditionally its largest energy supplier.

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“Even if this winter ends up being mild, next winter also remains a supply concern as refilling storages through the summer of 2023 will be much harder than summer just gone, with little-to-no Russian gas available,” he added.

Several experts have warned that Europe’s high storage levels were to a large extent achieved with Russian gas. Even Xavier Bettel, the prime minister of Luxembourg, an EU nation, acknowledged earlier this month that storage was full with Russian gas. However, Russia supplies have been severely disrupted and it is Europe’s aim to be completely free from Russian fossil fuels.

Furthermore, there’s also the risk that European demand picks up in the coming months.

“The risk with the sell-off in the European gas market is the potential that demand starts to pick-up,” Khoman from MUFG Bank said, citing reports that fertilizer producers in Europe are easing curtailments.

“If this is part of a broader trend that we see in European demand, it would make it increasingly difficult for Europe to rebuild storage to comfortable levels ahead of next winter,” he added, projecting gas prices to average 200 euros per megawatt hour in the second quarter of 2023 and until the end of next year.

The CEO of EDP, Portugal’s utilities firm, summed it up when speaking to CNBC’s “Squawk Box Europe” Friday. “Certainly we are in a much better place than we were a couple of months ago,” Miguel Stilwell d’Andrade said, but “we should expect a lot of volatility going forward.”

The world has never witnessed an energy crisis of this depth and complexity, says IEA

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Heybike’s latest ALPHA all-terrain e-bike hits new $1,499 low, Hiboy takes 50% off EVs, AeroGarden Harvest 2.0 at new $35 low, more

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April 9, 2025

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Heybike's latest ALPHA all-terrain e-bike hits new ,499 low, Hiboy takes 50% off EVs, AeroGarden Harvest 2.0 at new low, more

We’ve got new and returning lows in our Green Deals today, starting with Heybike’s early Easter flash savings that are seeing up to $500 in discounts (and bonus free gear) across its e-bike lineup, including the latest ALPHA All-Terrain e-bike hitting a new $1,499 low. Right behind it is Hiboy’s Spring Sale offers that are taking up to 50% off e-scooters and e-bikes alike, like the new S2 SE Electric Scooter returning to its $300 low. Lastly, AeroGarden has a collection of its indoor hydroponic systems getting some big price cuts, led by the 6-pod Harvest 2.0 falling to a new $35 low. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s massive Anker SOLIX Easter Sale lineup, the switched around Lectric April sale offers, 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.

Heybike early Easter flash sale drops latest ALPHA all-terrain e-bike with 60-mile range to new $1,499 low

Heybike has launched a short-term early Easter flash sale with up to $500 being cut from its e-bike prices alongside some free gear packages. One notable inclusion is the brand’s latest ALPHA All-Terrain e-bike that is dropping to $1,499 shipped. Having just hit the market in February with a $1,699 price tag, we saw it launch for preorder with a $100 discount which continued through the subsequent sales until today. Now you can grab it with a $200 markdown, giving you the means to commute anywhere at a new all-time low price.

The Heybike ALPHA e-bike comes with a 500W Mivice mid-drive motor that is paired with a 680Wh battery, providing up to 60 miles of travel when its five PAS levels are active (supported by a torque sensor) at top speeds of up to 28 MPH (depending on your local laws). It weighs in at just under 72 pounds, with a 400-pound payload, and also comes with a throttle for electric-only riding, though the safety feature included here requires you to first pedal it into motion first.

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Designed as a budget-friendly solution, Heybike’s ALPHA e-bike comes with an array of solid stock features without increasing costs, like the hydraulic front suspension fork, hydraulic disc brakes, and 4-inch puncture-protected fat tires. Along with these, you’ll also find a Shimano Altus 8-speed derailleur, fenders over both tires, an integrated rear cargo rack, an LED headlight with an auto-on functionality, an integrated taillight with braking light functionality, and an LCD for settings and controls (including app-synced controls too).

Heybike’s other early Easter flash sale deals:

  • Mars 2.0 Folding Fat-Tire e-bike: $999 (Reg. $1,499)
    • 28 MPH for up to 45 miles
    • 1,000W motor (32 MPH speed) costs $100 more
    • comes with free front basket and large basket
  • Ranger S Folding Fat-Tire e-bike: $1,099 (Reg. $1,499)
    • 28 MPH for up to 55 miles
    • 1,000W motor (32 MPH speed) costs $200 more
    • comes with free front basket and large basket
  • Cityrun Urban Commuter e-bike: $1,099 (Reg. $1,599)
    • 21 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Hauler Single-Battery Cargo e-bike: $1,399 (Reg. $1,499)
    • 28 MPH for up to 55 miles
    • dual battery setup (85-mile range) costs $300 more
    • comes with large rear basket
  • Tyson Uni-Body e-bike: $1,399 (Reg. $1,699)
    • 28 MPH for up to 55 miles
    • comes with free large basket
  • Horizon Full-Suspension e-bike: $1,499 (Reg. $1,999)
    • 28 MPH for up to 55 miles
    • comes with free front basket and large basket
  • Brawn Off-Road e-bike: $1,499 (Reg. $1,799)
    • 28 MPH for up to 65 miles
    • comes with free large basket
  • Hero Carbon-Fiber All-Terrain e-bike: $2,499 (Reg. $2,599)
    • 35 MPH for up to 60 miles
    • comes with free large basket
Hiboy S2 SE Electric Scooter

Hiboy’s Spring Sale returns latest S2 SE Electric Scooter to $300 low

Hiboy has a banner on its website saying that it will be increasing prices in the near future, which makes it a great time to take advantage of its Spring Sale pricing with up to 50% being taken off its lineup of e-scooters and e-bikes. One of its newest releases, the S2 SE Electric Scooter, is back in stock and down at $299.98 shipped right now. This model hit the market right at the top of 2025 carrying a $550 price tag, with the brand’s late winter and early spring discounts returning it to the same $300 low. That rate is returning here today, giving you an affordable means to zoom through commutes while saving $250 in the process.

Expanding upon the designs of the predecessor models in the S2 series, Hiboy’s S2 SE electric scooter brings the same reliability alongside budget-friendly, upgraded commuting power. It’s been given a Q235 steel frame with a 350W Hall brushless DC motor paired alongside a 36V 7.8Ah battery, providing you with up to 17 miles of travel on a full charge at up to 19 MPH top speeds. It’s motor also peaks up to 430W in order to tackle inclines with up to 15-degree slopes.

The tires have seen a major upgrade, with both coming 17% wider for better grip along the pavement, while the 10-inch solid front tire offers puncture resistance and the 10-inch pneumatic rear tire provides better shock absorption. The fender has also been widened by 26% to prevent water toss-ups, with the entire scooter having a 20% increase in its load-bearing capacity thanks to the steel frame design. Other features include a folding design, LED headlight/taillight, an e-brake/drum brake system that is pretty standard for scooters, and an integrated HD LED display.

More Hiboy S2 series e-scooter discounts:

Other Hiboy e-scooter discounts:

Hiboy e-bike discounts:

Hiboy’s spring bundle deals:

AeroGarden Harvest 2.0 Indoor Hydroponic System

AeroGarden relaunches and drops its Harvest 2.0 indoor hydroponic system to a new $35 low

For anyone who may have been sad to hear that AeroGarden planned to close its doors at the start of 2025 – the company is officially staying alive and relaunching now that spring is here, with Amazon currently offering a number of its hydroponic systems at discounted rates. Among them, you’ll find the popular AeroGarden Harvest 2.0 6-Pod Indoor Hydroponic System in multiple colorways starting from $34.99 shipped. No longer listed at its original $90 rate and more recently keeping between $65 and $70 at Amazon, we saw the brand cut prices back during Black Friday and Christmas, with those discounts going as low as $45 which continued through the first two months of the new year. As unexpected as the announcement that it would be staying open, the price is now getting brought down lower than ever with the 50% markdown off the new going rate, putting $35 back in your pocket.

No need to deal with soil or have outdoor space for gardening here, as this AeroGarden device allows you to grow six vegetables, herbs, or flowers up to 12 inches tall right inside your kitchen thanks to the water bowl design. It has a 15W grow light that can simulate the natural lighting of the sun with automatic on/off features, germinating ”up to 5x faster than in soil” – plus, it will even remind you when to add plant food. You’ll also be receiving a starter kit with essential items, including plant food and grow sponges. If you’d prefer a larger model, you’ll find its 9-pod counterpart down at $90 right now too.

More AeroGarden deals:

  • Sprout: $28 (Reg. $53)
    • 3-plant system
    • comes with pre-seeded pod kit
  • Harvest Elite: $57 (Reg. $80)
    • 6-plant system
    • comes with pre-seeded pod kit
  • Harvest Elite Slim: $130 (Reg. $150)
    • 6-plant system
    • comes with Gourmet Herb Seed Pod Kit
  • Bounty: $211 (Reg. $230)
    • 9-plant system
    • Wi-Fi and Alexa compatibility
    • comes with pre-seeded pod kit

Best New Year EV 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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Tesla’s top financial controller leaves (TSLA)

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April 9, 2025

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Tesla's top financial controller leaves (TSLA)

Tesla’s director of accounting controllership, Harsh Rungta, has left the automaker and joined eVTOL aircraft manufacturer Archer Aviation.

Rungta has been at Tesla for more than 6 years.

He came from PricewaterhouseCoopers LLP (PwC), Tesla’s independent registered public accounting firm, and became Tesla’s Director of Automotive Revenue & Energy Business Controller.

According to his responsibilities listed on his LinkedIn profile, he was in charge of all corporate accounting at Tesla:

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• Lead the corporate accounting function including technical accounting for complex areas like revenue, leases, debt financing etc. and SEC reporting e.g. 10K/10Qs and 8-Ks.
• Manage the full financial statements and monthly/quarterly financial close process
• Work closely with C-Suite and cross function teams on various strategic business initiatives including new product/revenue stream roll outs, new market launches, new manufacturing site commercialization
• Manage topline of the Company across all businesses (vehicles, energy storage, solar, subscription, AI, insurance, after sale services)
• Work with supply chain, factory and product leaders, IT organization on optimizing procurement to cost accounting.
• Heavily involved in financial planning, monthly, quarterly forecasting, and plan to actual analysis.
• Closely work with IR and legal on Shareholders Letter for Earnings call.
• Responsible for reports to Audit Committee for quarterly financial results and operational updates.
• Oversight of the financial statements of 80+ partnership structures involving outside investors fund accounting involving equity tax structures with outside investors and statutory filings for insurance business entities
• Spearheaded setting up of processes, systems and controls to operationalize new launches like insurance, captive financing, crypto investments and payment acceptance, software and SAAS products.
• Manage finance transformation team on process optimization.
• Oversee IT system implementations in partnership with IT organization and Internal Audit.
• Oversee SOX compliance program and manage external auditor relationship.

Last year, he was promoted to ‘director, accounting controllership’, which generally oversees and manages all financial and accounting operations of a company.

In 2023, Tesla’s Chief Financial Officer (CFO), Zachary Kirkhorn, left and was replaced by then Chief Accounting Officer, Vaibhav Taneja.

Tesla hasn’t announced a new Chief Accounting Officer since Taneja took over the CFO role, which should make Rungta Tesla’s top accounting controller.

In an update to his LinkedIn profile this week, Rungta confirmed that he left Tesla and he is now ‘SVP Finance & Chief Accounting Officer’ at Archer Aviation.

We recently reported that Tesla also lost one of its top designers to Archer.

Rungta, who was a big part of Tesla’s quarterly financial results, is leaving just two weeks before the automaker is expected to release its Q1 2025 financial results.

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Volkswagen is ‘shifting into the fast lane’ as EV sales climb 59%, double in Europe

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April 9, 2025

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Volkswagen is 'shifting into the fast lane' as EV sales climb 59%, double in Europe

Volkswagen-EV-sales-Europe

After its electric car sales surged in the first three months of 2025, Volkswagen’s CEO said the company is “shifting into the fast lane.” In Europe, Volkswagen expanded its lead after EV sales doubled. Despite the success, the auto giant is still struggling in one key market.

Volkswagen EV sales double in Europe in the first quarter

Volkswagen delivered 216,800 all-electric vehicles globally in the first quarter, up 59% from 136,400 last year. The growth bumped up Volkswagen’s global EV market share from 6% to 10%.

Strong growth in Europe and the US helped offset fewer deliveries in China. In Europe, Volkswagen delivered over 150,000 EVs through the first three months of 2025, more than double (+113%) the number it handed over in the year prior.

Volkswagen is the “clear BEV market leader in Europe” with around 26% of the market. In comparison, Tesla’s sales were down in every European market in Q1, except the UK.

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In Germany alone, almost every second EV came from a VW Group brand. With new models like the ID.7 Tourer and Audi Q6 e-tron, Volkswagen’s orders in Western Europe are back up around one million (980,000).

Volkswagen’s top five best-selling EVs globally were the ID.4 and ID.5 (43,700), ID.3 (28,100), Audi A4 e-tron (22,800), Škoda Enyaq (20,200), and ID.7 (19,100).

Volkswagen-EV-sales-Europe
Volkswagen ID.3 (left) and ID.4 (right)

Global BEV deliveries rise but slip in China

In the US, VW Group EV sales were up 51%. The VW ID.4 was one of the top-selling EVs in the first quarter, with 7,663 units sold. Its electric minibus, the ID.Buzz is now rolling out, with 1,901 units sold in Q1.

Volkswagen Group CEO Oliver Blume said, “Now we’re shifting into the fast lane” with new models arriving. The company expects “additional tailwinds” from new model launches in 2025.

Volkswagen-EV-sales-Europe
Volkswagen ID.4 (Source: Volkswagen)

Despite growth in Europe and the US, Volkswagen is still struggling to keep pace with BYD and others in China. Volkswagen blamed an “intense competitive situation in China” after EV deliveries fell 37% to 25,900, down from 41,000 last year.

After surpassing VW as the top-selling car brand in China last year, BYD’s impressive sales run is heating up in 2025.

Volkswagen-EV-sales-Europe
From left to right: Volkswagen ID.4, ID Buzz, ID.7 (Source: Volkswagen US Media Site)

BYD sold 166,109 electric cars last month alone. Through the first three months of 2025, the Chinese EV giant has sold 416,388 all-electric vehicles.

After cutting prices this month on some of its top-selling models, BYD’s cheapest EV, the Seagull, now starts at under $8,000 (56,800 yuan).

Volkswagen-ID.1-EV
Volkswagen ID.EVERY1 world premier (Source: VW)

With ambitious plans to expand overseas this year, can Volkswagen and other global OEMs keep pace? S&P Global Mobility forecasts that BYD’s sales in Europe will double in 2025 to around 186,000. By 2029, that number could reach 400,000 or more.

Volkswagen is banking on its new affordable EV lineup to help it fend off BYD and other EV leaders over the next few years. The first, VW’s ID.2, will launch next year starting at around 25,000 euros ($27,500), followed by an SUV version and an even cheaper ID.1 in 2027.

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