The anticipated “red wave” in Tuesday’s midterm elections has so far turned out to be more like a ripple — though one that still threatens to complicate President Joe Biden’s climate agenda.

Pundits and polls predicted that high inflation and gasoline prices would help drive a Republican sweep. Instead, the GOP is favored to win the House with only a slim majority, and Democrats flipped a Senate seat, improving their chances of retaining control of the upper chamber.

Tallying the final election results will take weeks, but even a split Congress could have repercussions for Washington’s approach to the planet, writes Adam Aton.

Republicans have vowed to use their new power to boost fossil fuels, haul in Biden administration officials for oversight hearings and undermine the Inflation Reduction Act’s climate programs.

How successful they’ll be hinges on how much power they amass when all the votes are counted. But a GOP-controlled House doesn’t need a Senate counterpart to throw a wrench in Biden’s climate wheels.

It’s worth pointing out that Republican-controlled regions stand to benefit from the Inflation Reduction Act’s $370 billion in climate funding, which could dissuade GOP lawmakers from attempts to cut the cash flow.

The party dominates rural and often sunny and windy expanses of the American West and South, which are prime clean energy hubs. In fact, Republicans control nine of the top 10 congressional districts for planned or operating solar, wind and other clean energy projects.

Still, obstructionist efforts could threaten the administration’s goal of cutting the country’s greenhouse gas emissions in half by decade’s end — the rate of action scientists say is needed to avoid catastrophic warming.

That reality cast a grim mood in Egypt, where world leaders have gathered for an annual climate summit to hash out paths to pull the planet back from the brink, Karl Mathiesen and Sara Schonhardt write.

The impending switch of at least one chamber of Congress to a party that has embraced climate denialism and other extreme views sent a shiver of anxiety and defiance through the U.N. climate conference, Karl and Sara report from Egypt.

The climate summit and midterm elections come as record temperatures continue to grip the globe, bringing with them unprecedented floods, supercharged tropical hurricanes, drought and mass biodiversity loss.

Want more election coverage? Here are all the races still uncalled. Here’s a deeper dive into what the results mean for Biden’s energy agenda. And here’s a closer look at why things didn’t pan out as Republicans hoped.

It's Wednesday — thank you for tuning in to POLITICO's Power Switch. I'm your host, Arianna Skibell. Power Switch is brought to you by the journalists behind E&E News and POLITICO Energy. Send your tips, comments, questions to [email protected]

Today in POLITICO Energy’s podcast: Matt Daily breaks down how the far right has co-opted climate change and made it part of their culture wars and who is buying into it.

Democrat Maxwell Alejandro Frost, 25, won his election in Florida's 10th Congressional District.

That means Generation Z, the oldest members of which were born in 1997, has secured its first seat in the House, which has a minimum age of 25.

Frost has said he will bring a different perspective as someone who grew up in the era of increasingly frequent natural disasters brought by climate change, mass shootings and broad social upheaval.

Who will pay and how?
U.S. climate envoy John Kerry has unveiled a proposal that would allow companies to purchase carbon offsets that fund green power grids in developing countries, writes Jean Chemnick.

The plan comes as developing nations call for climate damage accountability. The framework proposes a voluntary market, where companies would buy carbon credits to offset their emissions and meet corporate climate targets.

EV tax drama
Asian and European automakers who make up a huge slice of America’s automotive economy are pleading with the Biden administration to change the subsidies for electric vehicles and say alliances could devolve into trade wars if they aren’t fixed, writes David Ferris.

The challenge for the Biden administration is that its package of EV rules may make it harder for foreign brands such as Honda, Kia and BMW to qualify for tax credits that make EVs more affordable for Americans.

Can’t take the heat
Europe is not just getting hotter, it's getting older — and it's ill prepared to cope with the resulting health care crisis, according to a new report out today, write Louise Guillot and Sarah Taissir Bencharie.

Climate change means Europe will see more frequent heat waves and is more likely to experience outbreaks of diseases like dengue and malaria, posing a serious health risk.

Russia's war: Ukrainian President Volodymyr Zelenskyy says tackling the climate crisis can only happen if Russia’s invasion of his country ends.

Greenwashing: U.N. experts are urging stringent rules to stop companies from making false climate promises.

A showcase of some of our best subscriber content.

A United Nations-backed report and new Washington state rules are resurfacing debates about natural gas bans as fuel costs continue to rise.

Democrats are expected to advance plans to update energy permitting rules before the end of the year, but Republicans may not be in the mood to strike a compromise.

The effects of climate change are steadily worsening and now threaten nearly every aspect of life in the U.S., according to a stark draft of a federal climate report.

That's it for today, folks! Thanks for reading.