EU gas prices up 140% as storage reaches lowest level for the date since 2011
By Eve
EU gas storage stood at 74% of capacity on October 20, the lowest for that date since 2011, according to Euronews as cited by The Cool Down. Gas prices have risen 140% since the war on Iran began and topped €100 per megawatt-hour, a level last crossed in 2022, while Brent crude climbed to $110 a barrel and the Strait of Hormuz, which carries 20% of global oil and gas, had stayed shut for close to eight months. EU energy ministers met in Luxembourg on October 29 but reached no binding decisions or specific demand reduction targets, and Brussels says supplies face no immediate threat.
Why it matters
Sustained high gas prices tend to push up wholesale power costs, which feeds into charge point operator energy margins and the pricing of tariffs and power purchase agreements. Procurement teams may want to review energy cost exposure and contract terms for the winter ahead.
Source
- Original title
- “EU gas prices surge 140% as storage hits a 14-year low ahead of winter”
- Published
- 8 November 2026
- Updated
- 9 November 2026
In this story
- Topic
- Grid & Energy
- Place
- European Union
Related news
Suniva begins expansion to lift US solar cell capacity to 5.5 GW
Suniva has started an expansion intended to take its US solar cell capacity to 5.5 GW, according to a SUNE stock news update. The report states that long-term customer purchase agreements cover the majority of Suniva's planned production through 2030. The excerpt supplied contains no further figures on investment, timing or customers.
Why it matters
Domestic solar cell supply at this scale, largely contracted to 2030, may tighten availability for developers pairing solar with charging sites, so CPOs planning on-site generation should check how much uncontracted volume remains. It also signals continued US supply chain investment that could affect sourcing and local-content considerations.
Elements Green signs TenneT grid connection agreement for 400MW, 1,600MWh Stadorf battery project in Lower Saxony
Elements Green Deutschland GmbH has signed a grid connection agreement with transmission system operator TenneT for its Stadorf battery energy storage project in Lower Saxony. The project has a planned output of 400MW, a storage capacity of 1,600MWh and a four hour duration, and will connect directly to the extra high voltage grid. The agreement follows a connection construction agreement signed earlier this year, and together the two set the contractual framework for building and operating the grid connection.
Why it matters
Securing both grid connection contracts with a transmission operator is a key de-risking step for a utility scale storage project, and it shows how large German BESS schemes are progressing towards delivery. For CPOs and developers, it is a useful indicator of how grid access and storage capacity may shape the wider power system that charging networks depend on.
Impossible Metals robot recovers 450 grams of seabed nodules at more than 4,000 metres, with no independent data yet
Impossible Metals said its autonomous Eureka robot recovered about 450 grams of polymetallic nodules from the Clarion Clipperton Zone at more than 4,000 metres during a September expedition, as reported by Reuters. The dive was marine scientific research, not production, and the company's release does not describe independent monitoring, so claims of no environmental disturbance come from an investor. The announcement comes 10 days before the first US seabed mineral lease sale, which the company's April 2025 request helped set in motion.
Why it matters
This is a proof of mechanism at research scale, not evidence of commercial supply or environmental outcome, so it should not yet change assumptions about battery metal sourcing. Procurement and CPO teams should treat seabed minerals as a long dated and contested supply question, and watch the lease sale and any independent monitoring data.