A young, 15 year old. Anna swadell is just the queen. Never with i thought that who 20 or years later i would be sleeping 7. If i stepped away for the queen, every night i would be i would class the queen as a new person. She knew she knew. My names she knew my childrens name is likely when Queen Elizabeth there will be a final lament, please. Of course the countries of those like scotland, you will see the many pass here. Well, i will push up. Ill just either suddenlink. Ah, this is al jazeera and these are the top stories. The sour king charles, the 3rd has been proclaimed the new sovereign of the united kingdom. 2 days after the death of his mother, Queen Elizabeth, the ancient ceremony held at saint jamess palace was broadcast, live on television for the 1st time. In taking up these responsibilities, i shall strive to follow the inspiring example. I have been set in up Holding Constitutional government and to seek the peace, harmony, and prosperity of the peoples of these islands and of the commerce realms and territories throughout the world. King charles has 2 sons and their wives came together to look at the tribute some flowers left for the grandmother outside windsor castle. The full royal spent more than 30 minutes speaking to members of the public. Its the 1st time the 2 couples had been seen. So closely together, since harry and make an officially lift their royal duties and moved to the us in other news, Ukrainian Forces are regaining territory. Last to the russians in the north east. The eastern town of kapinsky, near hi keith has been retaken and forces are closing in on another town. Ukraines president says they have gained 2000 square kilometers just this month. Well, those are the headlines. The news continues here on al jazeera, after inside story up next ah, winning in soaring Energy Prices, European Countries are facing and unprecedented gas shortage. Leaders have contingency plans, but all they enough to get for the winter. I will the e put in place a Long Term Energy strategy. This isnt festival ah, with hello walk into the program. I remember on con, European Energy ministers have failed to agree on a plan to cap a russian gas prices at an emergency meeting in brussels. The session aim to consider how to shield households and businesses from soaring energy bills. But the stalemate has cast doubt on whether the proposal will go ahead. E Energy Commissioner called re simpson, says countries heavily reliant on russian supplies fear. They will be cut off altogether. President Vladimir Putin had earlier threatened to make europe freeze this winter if a cap is agreed. Russian supplies currently make up 9 percent of each gas impulse down from 40 percent before its invasion of ukraine. European Council PresidentCharles Michelle has tried to reassure members. He says, we need to remain calm. We must not let ourselves be intimidated by threats from the kremlin. And he goes on to say we need to diversify our Energy Sources and supply sources. Because we see that russia is not a reliable actor. In the u. K. However, the Prime Minister announced a cap on Energy Prices to protect consumers. Lets draw says the average annual household bill for gas and electricity will be limited to 2 and a half 1000 pounds as around 2900. 00. And i can tell the house today that we will not be giving it to the leader of the opposition. Oh, for this to be funded through a winful task that would undermine the national interest. By discouraging the very investment we need a present putins threat increases the likelihood of Energy Rationing in europe this winter. And lets say august was already the most expensive mom on record for energy tariffs. On the continent, prices in germany were more than 35 percent higher last month compared with the same month a year before. France recorded a small increase with cost rising a little over 22 percent. And in italy, the prices jumped nearly 45 percent in netherlands. The energy bills were a record, a 151 percent higher in august this year, than in august 2021. Ah. Lets bring in our guess. Sandrine dixon declare is an Energy Climate researcher and co author of rural, a Survival Guide for humanity. She joins us from brussels. Dr. Moffatt is the founder of the u. K. Energy Security Group and a former u. K. Government Energy Advisor. He joins us from london and in his way in turkey, we have met a gucci, who is the chairman of the London Energy club and a former director of british gas, a warm welcome to you all. I want to begin in london with clive moffatt. Clive are what the British Government is doing is capping Energy Prices at 2900. 00. Thats obviously going to be a great help for the british people. And its something that maybe other governments will take on as well. But the cost of this long term is said to be about a 100000000000. 00. Is this feasible . To be honest with, you know, in the last month, again, the border is increased by over 30 percent. I think this is quite frankly is this level of the market intervention and the price is not just deployed. And i think theres other ways that could be achieved. There are problems with trying to, like help household through the price make an ism especially when you dont control wholesale prices. I dont think price mechanism should be used to the welfare money is there. Some government have to do something, and this is something that seems to be the easiest option given the russia isnt playing ball. Is this a good option . Do you think . Well, i mean what they were you if i because you wednesday all yesterday, i mean whatever method is he had the day is very create the response, right . And in this regard, i dont see that there is much hope we are talking about are the solution from diverse life sources winful profit also reduction of consumption. But these are all medium low measures. We need to, if you have it all and very bad winter coming and russia has eat in their hands right now. Theyre providing only 90 percent of the uga as opposed to 40 percent before the iraq. And now if you have a f one rushing, it will hopefully be why nothing will be there and you is not to substitute for this. So i think its very important to see the big picture. And im looking at you leaders are seeing the big picture of course medium term. We can build a need european and are just why are renewables to divers asian rule. And ill just say being the, i dont get your name. But after you, i will have a new pipeline coming, but i can be t challenge the jeep european household and in the us be happy and not to lose the competitor in the world market is so picks the most important challenge. I tell you is the market liquidity because it 1230000. 00 is not injected into our generators. And also i think we only to see a slip, a Lehman Brothers in an antique dusty, very suit. So i think they have to act very, very quickly rather than dealing with the degree. Well thats bringing sandrine has hundreds and Energy Climate researcher, surely august is saying we need a quick fix solution, but surely quick fix solutions. A wall has got us into this problem in the 1st place, we need a longer Term Solution on Energy Reliance from one large are provided like russia, but needs to change. Surely. I, id like to build on that and youre absolutely right. I do agree that we need short term leavers and those short term lever, however, cannot actually bank us back tracked on our long term objectives. As was just said, its going to be difficult in the next few months. And we have to think through what are the buffers that were going to give the price caps ensuring actually that we also work with consumers through Energy Efficiency measures. And that we reduce our demand. I think its a good thing that weve shifted from 40 percent to 9 percent in terms of our dependency on putin. I do think that we need to be very careful that we dont set up further unholy alliances and substitute our dependency on russia with other dependencies outside of europe. So we do need to address the dysfunctionality of our current relationships, geopolitically with regard to energy, but also very much address the infrastructure at the european level and the market signals that were saying also the decoupling of the market from gas prices. This has been one of the key issues that we have seen and we need to start to address. How do we actually invest in a European Market that truly does foster much more capital for renewables, build that infrastructure as fast as possible. And in the mean time, ensure that we actually buffer consumers, we can enable tax incentives as were seeing, were going to have to proceed with some type of energy check. The other conversation that i just recently had with the European Investment bank and also with the European Central bank is how can may help, how can we, in, i enable short term loans. That actually could probably address some of the city level disruptions, transport, poverty, and energy poverty. The consumers are going to see whether it be in buildings or whether it be in the transport system. So we have a lot of tools in the tool box and my key council to the european commission. And actually president vander lion just this week has been do not backtrack. Now it is the dis, functionality of the markets that we show very clearly in our book or for all her Survival Guide for humanity. This dependency on too many short term suppliers which will get us in a future long term mess. And so we need to think about how we properly invest and give the signals to investors to continue to move towards renewables. And demand Side Management efficiency measures are the one your thoughts on this as well. But i want to go to amendment and as mayor 1st, whats your reactions about . Well, i also think that good luck is because this crisis my prisoner as well. We all be walking long to make the transition from a green energy as quickly as possible. We have the goal of 2011. This is quite a bit, but perhaps in this crisis, no matter how we are going to. So it in the next few months and 3 years might be perhaps pushing out words to create your transformation. Because we have not and the commission and most of European Union kind of agreed that they will pick to the green deal when we change goal. And they will know still to greener feels and they dont want to commit to gonna go beyond the next 2 years. Because this will take at least 3 years. And therefore, will have this might be presented as an apartment d to work together. Creek in the pace of transportation doesnt issue. I think the previous speaker said, well, Money Matters agree wherever you put the money transformation globally in this direction. Over the past few years, we thought that a month free for the investment are moving to renewables. But now dont forget, we feel concealed. 83 percent is built in our global and i should be. And you cannot move from the greenery very quickly. So its not transfusion, i think we have this process. Thats the reason why some of the destruction about taking place. And our issue is whether its a lemon rather type of lapse of energy companies. They can be avoided and how this companies will be transport. Well, it will not let me bring the thing when i went ahead on this as well. The example of Lehman Brothers, which is mentioned, youd seen sorry if you just give me a 2nd or last question. It might actually focusing slightly. We had the example of Lehman Brothers here. Now bulb and the u. K has already failed, and thats been a very costly bailout for the government. Is there a way the market . Clive can actually act positively. This is i think weve got, if we were in danger here, confusion, shaw, on long term issues. Just like to reiterate what the last speaker says about gas. You might have a like, what about the russian gas for the point is the gas because say its something that youre a continue to depend upon for some significant number of years. Probably 10 to 15 years. The other issue, i like to focus on it, but trying to separate out show consideration on the short term europe has 2 problems. One is to mitigate the, in fact, to the potential energy ration on industry and consumers on the other is to try and help those families. Those households who are spending a disproportionate amount of their income on energy and could do this from hell. Youve got to bear in mind the large extent for most of household growth western europe, the u. This is a problem for some people, but its not a crisis. The whole intervening the markets to pay the wholesale prices. All retail price is grossly expensive. And effectively under came suppliers, it gives money to people who dont really needed supplies, get basically get financial intentional costs on the bin. And the consumer is left with possibly a higher price burden than it would necessarily do and is also potentially a strong. Ready and she is going to bear in mind that the current supply cos break even for l m g and no c. Gas is less than half the current full retail price for wholesale gas. Now im going to is economy, and ive been around many issue ations a long time and you can expect that there will be, and im not the only one who thinks theres some form of correction. Despite the dave a speculation in the market about whether putin will turn off all not free. So i think we have to look at that and say, well, if we go in and intervene in the market the way that trash has, there is a danger who we preclude the adjustment that might take place. Certainly by the 1st quarter of next year in terms of both feel prices. So i can understand ministers in europe reacting in the way that they have. And i think they are quite rightly concerned because one of the biggest stretch of trying to paying wholesale gas is if youre running short of gas, say, and then you have to huge a huge impact on industry and assume as seen all of us debate. Theres been a lot of too much emphasis on price and not enough on a proven flexibility of gas supply and the quantity in both the gas, the electricity market. I mean, a longer term issue that a lot of the lot streak is mention about investment in renewables right now. There is a way what we need to have here is a farm. Here. We dont have it here and approach from russell well from london. I can hear it approaches to walk, in fact is a viable alternative. In many cases, a lot of the technology is being talked about simply bible at this point in time because everything youve just said points to and theres one a bit of what you just said, which kind of struck out to me is, is that not everybody will be affected by this, there are some people who wont actually pay that much more, but its going to be the poorest people in europe that will be affected. And thats a political problem. I want to bring sandrine in here. There is a political aspect to all of this, right . Those pull people, they do need help. Absolutely, and again, the research that weve been doing in the analysis thats come out of our system dynamic modeling, which is featured in or for all. And then the stress testing weve done with economists, and this is even prior to the ukrainian crisis, has been very much that were gonna have social tipping points before we even have environmental tipping points. If you look at the compound effect between covered clearly and then the climate impacts that weve seen across europe, which have already had rig have wreaked havoc on the production and yields of agriculture. And then you bring in, obviously the ukranian impacts both on food and energy plus inflation. All of this is hitting at the same time. Thats why we cannot actually address this in a vacuum and only think about the gas market. We have to start thinking about the perversity within our you can economy, which includes subsidizing actually large scale industrial production, subsidizing fossil energy, not ensuring that we have a proper price differential to enable the most vulnerable to be able to continue to heat their homes. In addition to the way in which we look at the electricity market and weve already got those types. I mean i, i agree that there needs to be absolutely more flexibility in the electricity market. But the fact that we have actually not decoupled the market between renewables and gas, and they clearly it is the gas price that continues to put a high price on other sources of energy is totally dysfunctional. So we have to look at the full picture. And as i indicated before, we do have tools in the tool box. Were going to have to go into crisis mode. We are in a crisis, we needed a planet, we need an emergency plan, as anyone does when actually the house is burning and europe is going to unfortunately be hit very hard. Over the autumn and the winter, there is no doubt that there will be some suffering and there already is by our citizens. Need to make what i want to bring them in. That is where theres a crisis moment, says august in brussels, something needs to be done. Is that something making nice with ludovic to 10 . Well, i mean, look at the laughing at, you know, dealing with because he was or, and i will be with him to be the one on buddy. As we know, each Member Company has the own. Inquire and need pro depends 85 percent on nuclear kind of person on either john wanted to remain respect whereas germany, which is the normal or the next, or need more energy and cheap and well get well im going to just find an agreement with a price point 8000000 cubic meters of got. Why is serbia and repeating rushing dust . So i think theres going to be huge cracks not only how to support the most valuable in society, but within the European Union. I think theres a way to serve it, set t