European countries aim to achieve net zero CO2 emissions by mid-century. Consequently, the European energy system and particularly the electricity system must undergo major changes. An increasing electrification of the mobility and heating sector is required for decarbonisation, which reserves...

Intermittent renewable energy sources, including solar and wind power, typically remain more expensive than conventional power sources. As a consequence, few intermittent power projects would have been deployed if specific policy instruments had not been implemented. Existing policy instruments...