EU countries fail to find common ground on power market reforms | Forexlive

European leaders failed today to hammer out a deal on electricity market reform and regulation. On the weekend, France’s energy minister said energy ministers could strike a deal today but talks will have to go one.

The aim to to halt the kind of price spikes that roiled the European economy last year.

Plans are to create a system of “contracts for difference” and well as long-term electricity contracts in order to create price stability. One of the issues is that not all countries want the CFD scheme to be mandatory. Another one of the problems is that Sweden wants to continue subsidizing coal.