This paper is the first in a series of papers on the new approach to the many-electron correlation problem, termed the method of moments of coupled-cluster equations (MMCC). A hierarchy of MMCC approximations, including the renormalized and completely renormalized CCSD[T], CCSD(T), CCSD(TQ), and CCSDT(Q) methods, which can be viewed as generalizations of the well-known perturbative coupled-cluster CCSD[T], CCSD(T), CCSD(TQ(f)), and CCSDT(Q(f)) schemes, is introduced. In this initial study, an emphasis is placed on the ability of the MMCC approach to describe bond breaking and large effects due to connected triples and quadruples by modifying the standard noniterative CC approaches, such as the popular CCSD(T) method. The performance of selected MMCC approaches, including the renormalized and completely renormalized CCSD[T], CCSD(T), and CCSD(TQ) schemes, is illustrated by the results of pilot calculations for the HF and H2O molecules.