Tacking stock of the EU "power target model"... and steering its future course

Abstract

The European Union took more than 20 years to start defining a common market design for its internal electricity market: a European Power Target Model. And, a further 10 years to fully implement it. Meanwhile, the reference generation set of that model has shifted from CCGT burning gas to RES plants transforming intermittent natural resources. Could the existing EU target model continue to work well for the short-term operation and long-term investment? If not, can the existing EU institutions easily produce an "RES resilient" new power target model? (C) 2016 Published by Elsevier Ltd.