Former Naftogaz chair Andriy Kobolev says that if Russia cuts off gas supply to Europe this winter, it will be the end of Gazprom’s presence in European markets. Russia wants to remain Europe’s primary gas supplier. It is now burning gas, because it cannot reduce output. Shutting down a shaft means a 50% lower output when extraction resumes.

Uranium reserves of 7.6 million tons are on a course to reach exhaustion within a century. The Indian institute IISER was successful in extracting uranium from seawater, which contains 1,000-times more uranium than conventional sources. The challenge was to capture it cost-effectively. They managed to capture 95% of uranium within two hours.

Company says it is reducing production for few hours where possible as ability to cool plants with river water is restricted. However, half of EDF’s 56 nuclear reactors are offline due to planned maintenance and work to repair corrosion which was delayed by the pandemic. France is relying on expensive imports from the neighbouring countries.

A scorching heat wave is pushing the Texas grid to the brink. Power demand is surging as people crank up air conditioners. But wind speeds have fallen to extremely low levels and that means the state’s fleet of turbines is at just 8% of their potential output. Texas may be America’s oil and gas hub, but it’s also long been the country’s biggest wind-power state.

The share of the EU's gas supply provided by Russia dropped to 20% in June 2022. The gap of over 300 TWh in the first 6 months of 2022 compared to 2021 has been filled mostly by 240 TWh of additional imports of LNG. Because the internal gas market is not perfectly connected, countries will need to reduce their gas consumption by 0-54%.

Electricite de France SA may have to reduce output at some of its nuclear reactors, as drought reduces the amount of water available for cooling. This adds further strain to Europe’s energy supply. France may have to import more power in the coming months because half of its 56 nuclear reactors are halted for repairs or planned maintenance.

The price of futures for baseload electricity delivered in France in Q1 of 2023 is over €600/MWh. For years, the baseload price was under €50/MWh. The jump in price is due to fears that the lack of investment in new power stations will mean a shortage during the coming winter. As France used to be an exporter, this affects the prices across Europe.

French energy company EDF said that the 3.2 GW project in the UK will cost £25bn-£26bn. It was estimated at £18bn when it received the go-ahead in 2016. The first reactor unit is now scheduled to start operating in June 2027 due to Covid-related delays. EDF and its junior partner, China’s CGN, receive a guaranteed price of £92.50 per MWh.

Germany, Belgium, the Netherlands and Denmark plan to build 150 GW of offshore wind capacity in the North Sea to help achieve the EU's climate goals and, eventually, break away from Russian energy. The ambition is also to use the power to make hydrogen and green fuels for heavy industries and transportation that cannot easily be directly electrified.

The proposed green bond rules were designed to help facilitate the financing of sustainable investments through the creation of a ‘gold standard’ for how companies and public authorities can use green bonds to raise funds on capital markets, while meeting rigorous sustainability requirements and protecting investors from greenwashing.

Britain will launch a publicly-owned system operator to take over some of the responsibilities of the National Grid. Britain is striving to reach net zero emissions by 2050, a goal that will require a huge increase in renewable electricity. Shares in National Grid were down around 0.7% early on Wednesday, slightly underperforming the wider index.

All but one of Britain's existing nuclear power stations will be decommissioned by 2030. Mr Johnson and Mr Kwarteng want to increase country's existing 7 GW of nuclear capacity to 24 GW by 2050 with a government-owned company, but they have been battling with Rishi Sunak for vast sums at a time when the Chancellor is resisting further public spending.