The US federal government’s effort to force the transition of the US energy economy from a mixed-fuel economy to an “all-electric everything” energy economy based on renewable electricity generation and storage is becoming a brutal and explicit combination of incentives and disincentives.

Benchmark futures fell as much as 9.6%, following extreme volatility this month. Rising gas stockpiles and ample supplies of liquefied natural gas have pulled prices back from August records, but they’re still more than seven times higher than the typical levels for this time of year.

The Russian-Chinese interstate interaction can be regarded as a model. The foreign policy tandem of Moscow and Beijing plays a key role in ensuring global and regional stability.

We are finalising a new major Russian-Iranian treaty that will elevate our relations to the level of strategic partnership.

Following the talks, both presidents signed a declaration on comprehensive strategic partnership between the Russian Federation and the Republic of Uzbekistan.

We can state that the level of strategic partnership that has been attained and outlined in relevant documents is present not only on paper, but in real life as well.

There are very interesting and large-scale projects, namely the Pakistan Stream gas pipeline project, which involves building the infrastructure needed for the delivery of LNG.

Benchmark futures jumped as much as 12%. The European Commission’s radical intervention plan includes raising 140 billion euros ($140 billion) for consumers from energy companies’ earnings, as also mandatory curb on peak power demand and boosting liquidity.

The plan is expected to raise €140bn, including €117bn from the temporary revenue cap on inframarginal electricity producers and €25bn from the temporary solidarity contribution based on taxable surplus profits made in the fiscal year 2022 on energy undertakings in the oil, gas, coal and refinery sectors

The risks of shortages drove gas prices higher for a third day. The European Commission this week unveiled radical intervention plan including raising 140 billion euros ($140 billion) for consumers from energy companies’ earnings, mandatory curb on peak power demand and boosting liquidity.

The possibility of replacing coal power plants with nuclear capacity is being actively explored in the USA and elsewhere.

Renewable generation sources include conventional hydropower, wind, solar, geothermal, and biomass. In the United States, most renewable electricity generation comes from hydropower, solar, and wind.

So far, in 2022, spot electricity prices are five to ten times higher than in previous years. On August 22, the daily spot market price for Germany exceeded 600 EUR/MWh, 15 times the average of the 2010s.

The developed nations of Europe and the UK have played into the hands of Russia by closing coal and nuclear generation facilities and becoming dependent on renewables and Russian natural gas, rather than developing their own natural gas reserves.

Benchmark energy futures fell after jumping on Monday, with Dutch front-month gas losing as much as 13% and German year-ahead power falling 11%.