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EU energy ministers fail to agree on a cap for natural gas prices. New emergency meeting due in mid-December.

Kenzo Tribouillard | Afp | Getty Images

BRUSSELS — European energy ministers failed to reach a compromise over a cap on natural gas prices after “heated,” “ugly” and “tough” discussions.

The 27 EU leaders agreed in late October to give their political support to a limit on natural gas prices after months and months of discussions on how to best tackle the current energy crisis.

The European Commission, the executive arm of the EU, and the bloc’s energy ministers were then tasked to solve their more specific, and practical, differences on the measure.

However, the divergences are so acute in Brussels this week that energy ministers have not managed to find a compromise and instead have convened a new emergency meeting for mid-December.

“The tension was touchable,” one EU official, who followed the discussions but preferred to remain anonymous due to the sensitive nature of the talks, told CNBC via telephone. The same official said the conversations were “very tough” because of a “fake price cap.”

In an attempt to bring everyone on board, the European Commission proposed a cap at 275 euros per megawatt hour. The cap would also only kick in when prices are 58 euros ($60.46) higher than a global LNG (liquefied natural gas) reference price for 10 consecutive trading days within a two-week period.

Greek energy minister: EU gas price cap at 275 euros/MWh is 'not a price cap'

Countries eager to implement the cap, most notably Poland, Spain and Greece, say this proposal is not realistic as it is so high that it is unlikely to ever be triggered.

“The gas price cap which is in the document currently doesn’t satisfy any single country. It’s a kind of joke for us,” Anna Moskwa, Poland’s minister for climate, said in Brussels Thursday.

Other EU officials, speaking to CNBC on the condition of anonymity, mentioned how the conversations were “heated.” One of them went as far as saying that “at one point, it got really ugly.”

This reflects how poorer and more indebted EU nations feel about the energy crisis that’s impacted the region since Russia’s invasion of Ukraine back in February. With less fiscal room to support domestic consumers, these countries need EU-wide measures to contain energy costs at home.

“I hope we get there next week,” another official following the meeting told CNBC under the condition of anonymity.

Speaking at a press conference Thursday, Jozef Sikela, the Czech minister for industry and trade, also said: “We’re not opening the Champagne yet, but putting the bottle in the fridge.”

We do not have several months, Malta energy minister says on gas price cap

Energy ministers are expected to meet again on Dec. 13, just before the heads of state meet in Brussels for their final EU summit of the year. Until then, the commission’s proposal is likely to suffer alterations in the hope of bringing everyone on board.

Prices on the front-month Title Transfer Facility (TTF) European benchmark closed at around 129 euros per megawatt hour on Thursday. They had reached a historic peak back in August at almost 250 euros per megawatt hour.

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Massachusetts launches a two-year V2X pilot program

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Massachusetts launches a two-year V2X pilot program

Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.

These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.

The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.

Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:

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  • No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
  • Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
  • Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
  • Backup power: EV batteries can be used as backup power sources during outages.
  • Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.

Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”

“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.

The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.

Read more: Cambridge’s new solar VPPA is the largest ever by any US city


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Compton, California, just got its first 25 electric school buses

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Compton, California, just got its first 25 electric school buses

Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.

Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.

Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.

“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.

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CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.

Read more: Thomas Built Buses debuts its next-gen electric school bus


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Rivian’s R1S electric SUV just got way cheaper to lease

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Rivian's R1S electric SUV just got way cheaper to lease

After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.

Rivian cuts R1S lease prices by $200 per month

Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.

With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.

Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.

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The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.

Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.

Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.

Starting Price Range
(EPA-est.)
2025 Rivian R1S Dual Standard $75,900 270 miles
2026 Tesla Model Y Launch Series $59,990 327 miles
Rivian R1S Dual Standard vs new Tesla Model Y Launch Series

To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.

The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.

Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.

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