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Preparing power

European energy markets are going through structural change—and it looks like there's a lot more to come. We caught up with Dr Patrick Graichen, Director at Agora Energiewende for his thoughts

What do you consider to be the main structural faults with the European energy market? In the power sector we are talking about the incomplete implementation of the third package on the internal energy market and the unclear future of renewable power financing beyond 2020. Furthermore, there is a blind spot of European energy policy: The problem of coal. Wholesale power prices are being depressed due to oversupply from depreciated, inflexible, high-carbon power plants. In some countries, there is even the idea to grant them capacity payments. At the same time, the EU emissions trading system is facing a huge oversupply of greenhouse gas certificates, resulting in very low CO2 prices. Both

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