The European Power Market
The European power market is in a state of flux and the white paper examines the steps that have led to this and explores the resulting investment opportunities and risks. It outlines the key drivers for a restructuring of the market including:
- The market fundamentals such as subdued power demand, low coal and carbon prices and the subsidised rise of renewables
- The dramatic and paradoxical effect subsidised renewable generation has had
- The impact of EU fragmentation and Member centralisation
- The evolution of two distinct streams: 1) Conventional thermal generation influenced by market fundamentals and 2) Low carbon generation with very low marginal costs whose returns are driven by government policy
The white paper also looks ahead to the future and explores the potential investment opportunities and risks, such as:
- The feasibility of continued renewable expansion
- A shift in focus to the need for responsive plant
- The importance of smart grid technology
- The opportunities surrounding networks
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