Forum Topics

Turmoil in European Energy Markets and Implications for the U.S.

Papers and presentations collected here from European power market experts outline the longstanding and emerging trends that lead to high power prices in the winter of 2021/2022. Lower-than expected generation from non-gas resources, combined with higher-than-expected demand were two key driving factors. 

The European Union, as well as its member states, have various options for responding to high energy prices. These are outlined in the slides, available for download, and the paper from the MIT Energy Initiative published in February 2022.

Relevant Publications

Power price crisis in the EU: Unveiling current policy responses and proposing a balanced regulatory remedy

MIT Energy Initiative, Carlos Batlle, Tim Schittekatte, Christopher Knittel, February 2022

 

Surging 2021 European Gas Prices – Why and How?

Oxford Institute for Energy Studies, Mike Fulwood, January 2022

 

Reflections on Energy Market Design

Michael Pollit, Centre on Regulation in Europe, January 12, 2022

 

Europe and the world need to draw the right lessons from today’s natural gas crisis

Fatih Birol, International Energy Agency, January 13, 2022

 

Power Market Structure & Design

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