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Over the last 10 years Europe has witnessed the growth of capacity remuneration mechanisms (CRMs) — tools intended to provide added confidence of adequate resource when demand is forecasted to peak. RAP has often documented concerns with certain CRM interventions… View Summary +
A recurring theme in energy market discussions is the fear that increasing shares of solar and wind with negligible running costs will lead to plummeting electricity prices — so-called price cannibalisation — making further investments in renewables uneconomic. This… View Summary +
The European energy crisis was not caused by the electricity market. But it sure made people pay closer-than-usual attention to its design. That is not a bad thing. The electricity market becomes ever more important as large swaths of the… View Summary +
In the past, power market reform happened to increase efficiency, to reduce greenhouse gas emissions, or to improve reliability and security of supply. Today in Europe, the desire to further change the market stems from the ongoing energy crisis. As… View Summary +
Interruptions in electricity supply – ‘the lights going out’ – make for arresting headlines and capture public attention. Yet it is strikingly rare for any kind of electricity generation shortfall to trigger blackouts: major reliability events are nearly always… View Summary +
About this Report: Accomplishing climate neutrality by 2050 requires a zero-emissions power sector by the mid-2030s. Securing a decarbonized power system early will unlock pathways for the whole economy. One of the biggest challenges to accomplishing this ambitious… View Summary +
European policymakers are weighing possible responses to the extraordinary surge in energy prices and the consequences for citizens and industry. The European Commission expects to issue additional guidance in May, following analysis due in April from the Agency for the… View Summary +
Removing fossil fuels from heating is a goal of policy makers around the world in order to decarbonise energy systems and to remove exposure to fossil fuel imports. Alongside efficiency measures, the key technology to replace fossil fuels for heating… View Summary +
The first ten months of 2021 have seen dramatic increases in energy prices in Europe and elsewhere. Experts now agree that the surging international demand for liquified natural gas and the rise in gas prices are driving electricity prices to… View Summary +
When the global economy picks up steam, so do commodity prices. Gas demand bouncing back to pre-Covid levels started a new upswing in the price cycle. We are seeing classic market dynamics at work: demand outstrips supply and… View Summary +
