Energy markets are often said to suffer from a “missing money” problem. While the analysis behind these claims is often muddled, there can be legitimate concerns about whether energy markets are adequately remunerating needed investment. In this RAP webinar presentation, Michael Hogan addresses how energy pricing drives investment in the design of wholesale electricity markets; the growing challenge of investing in resource capabilities, rather than simply capacity; how money goes missing from energy prices and the consequences for investment; and alternatives for recouping “missing money” to meet demand for reliability at least cost to consumers, especially as we transition to a low-carbon power system.