1 FROM WHOLESALE PRICES TO CONTRACTS 1
2 SHORT-TERM EFFICIENCY 2
3 INVESTMENT IN NEW GENERATION, RENTS AND ELECTRICITY PRICES 4
    3.1 Wholesale market imperfections 4
    3.2 Power purchase agreements 5
    3.3 Two-way contracts for difference 5
4 THE CHALLENGES FOR DEVELOPING A LONG-TERM CONTRACT MARKET 7
    4.1 Obstacles to signing contracts 7
    4.2 Some basic regulations 8
5 CONCLUDING REMARKS 8
REFERENCES 9