Electricity in CWE: no market- driven investments Overcapacity; wholesale market price electricity CW Europe: € 75/MWh in 2007 / € 40 - 45/MWh today Even lower electricity prices are possible Efficient markets: price expectations trigger investment behavior 2013-2025: a lot of old capital (fossil & nuclear) needs to be replaced Alternative; longer use of inefficient capital Low prices -> coal replaces gas (wholesale prices reflect marginal costs)
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