Failure to reach a deal would send a signal that the EU’s united response to the war-driven energy crisis is falling apart -- a political gift for Moscow that Europe is keen to avoid.

Exceptionally mild weather across Northwest Europe since October has led to a sharp drop in gas prices from record levels over the summer.

Independent estimates indicate that the U.S. needs to expand electricity transmission systems by 60% by 2030 and may need to triple current capacity by 2050 to accommodate the country’s rapidly increasing supply of cheaper, cleaner energy and meet increasing power demand for electric vehicles and electric home heating and reduce power outages from severe weather.

Meanwhile, the European Union is continuing talks about ways to limit spikes in gas prices ahead of a meeting of energy ministers next week.

The electric grids at most risk of supply shortfalls are in Texas, the central US system stretching from the Great Lakes to Louisiana, New England and the Carolinas, the North American Electric Reliability Council said in its seasonal assessment Thursday.

Benchmark gas futures settled 9.2% higher, following an increase of 16% on Monday. Freeport LNG in Texas will likely extend an outage that began in June, increasing global competition for much-needed supplies right before the winter.

An “Energy Superhub” is being constructed in Coventry, a city in the middle of the UK, which will harmonize a number of renewable technologies to maximize the benefits of decarbonized electricity.

Risks over existing gas supplies from Russia will continue through the coming months, with just one pipeline route open to the biggest European customers.

Currently, the most expensive form of generation -- gas -- sets the price for all electricity that’s sold into the market. That means consumers are bearing the brunt of Russia’s supply cuts to the continent. It also means Europe isn’t feeling much of the benefit of low-cost renewables like wind farms, which get to sell at big margins.

Traders are on edge with Russian President Vladimir Putin saying any energy infrastructure in the world is at risk after the Nord Stream explosions, which he said benefited the US, Ukraine and Poland.