European Federation of Executives in the Sectors of Energy and related Research
European electricity prices are set through a merit‑order system, where power plants are dispatched from the lowest to the highest marginal cost. Renewables such as wind and solar usually come first because their variablecost is close to zero. Nuclear and coal follow, while gas‑fired plants are typically last, as they are the most expensive to operate.
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The ongoing energy crisis, characterized by persistently high gas and electricity prices, is undermining the competitiveness of European industry. Energy‑intensive sectors—particularly the chemical industry—are facing increasing difficulties in competing with regions that benefit from abundant and affordable domestic energy resources. Without decisive action, Europe risks accelerated deindustrialization, job losses, and a lasting erosion of its industrial base.
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