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AHEAD OF SCHEDULE: The European Union’s natural gas storage tanks are filled past the 90% mark, according to new data from Gas Infrastructure Europe, defying analysts’ predictions and putting it far ahead of its schedule to fill past the mandatory 90% threshold as the bloc prepares for its second winter heating season largely without Russian fossil fuels.
The combined effort has been successful: Prices for Dutch TTF, the European gas benchmark, hovered around $41 per megawatt hour this week—far below last August, when they soared to a record high of $347. But others urged caution, noting the EU is not quite out of the woods yet. Tom Marzec-Manser, the head of gas analytics at ICIS, warned today that wholesale gas prices are still “noticeably” more expensive compared to historic levels, despite the sharp drop from last summer.
A statement from the mayor’s office stated that Andaya cited health reasons for submitting his resignation, which was effective immediately. The utilities’ shares cratered after the company faced allegations that its negligence and inaction fueled the disastrous blaze. At least four lawsuits have been filed that accuse the utility of misconduct and failure to take proper steps to prevent disasters such as the Maui wildfires.
TEXAS POWER PRICES SURGE 6,000%: Texas spot electricity prices soared by more than 60-fold, according to Bloomberg, climbing toward the $5,000 price cap as the state grid faces some of the tightest conditions on power supplies so far this summer.
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