In the evolution of electricity markets in Europe, day-ahead markets have received most attention. It took a long time to integrate these markets, but the process is almost complete. What was considered impossible at the start has been achieved. Intraday markets have been slower in their development, but they are becoming more important with the transition to renewable energy. In balancing markets, the definition of standard products and the creation of European platforms to exchange these products across borders is a relatively new ambition, but much has been achieved in a relatively short time. Of course, the devil is in the details, so implementation in the coming years will need to be closely monitored.
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Bridging theory and practice, this book offers insights into how Europe has experienced the evolution of modern electricity markets from the end of the 1990s to the present day. It explores defining moments in the process, including the four waves of European legislative packages, landmark court cases, and the impact of climate strikes and marches.