London, 30 June 2015 -- In Europe, Moody's expects that wholesale power prices will remain weak through 2020. This reflects anaemic demand for electricity against the backdrop of a subdued macro-economic environment and growing energy efficiency, and ongoing overcapacity as illustrated by high reserve margins across most markets. Moody's expects commodity prices, to remain broadly stable and notes that in this context, carbon (CO2) is one of the few drivers of power prices that does not depend on market dynamics but directly on policymakers.

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