Utility companies face a troubling outlook as energy costs keep rising.

U.S. natural gas futures posted their biggest-single-day gain since January as a pipeline outage Thursday in West Virginia led to supply disruptions. TC Energy said it detected a natural gas leak at the Saunders Creek Regulator Station in West Virginia around 8:35 a.m. ET and "immediately activated emergency response procedures." The outage sent natural gas futures higher, with the October contract on the New York Mercantile Exchange settling up 9.1% at $3.297 per million British thermal units, a three-month high.

Shares of Fervo Energy rose after the Bill Gates-backed geothermal energy company announced its flagship geothermal development has successfully generated electricity and fed it into the grid for the first time. The company said its geothermal development in Utah had achieved "first power," marking the first time a utility-scale enhanced geothermal development had reached the milestone "anywhere in the world."