The Power Markets have been created thirty years ago to respond to the Energy Deregulation drive. They have recently faced crisis, such as the Ukraine Russia war or storm Yuri in Texas, with power prices going crazy and creating a lot of financial distresses for certain producers and consumers.Meanwhile, we see the development of renewables that increase the volatility and remove the traditional reference to marginal pricing linked to fossil fuels. How to characterise the problems?Do power markets need a reform or a revolution? How can flexibility be bolstered? Can a fossil-fuel free system still deliver a marginal price? Are governments too heavy handed?All those questions are put together and debated with our guest Stephen Woodhouse, Director, AFRY Management Consulting. Stephen has 25 years’ experience in the electricity business and has headed AFRY’s global work on energy market design for many years and is internationally recognised as an expert in energy market reform and the energy transition. AFRY Management Consulting is a leading advisor for the transitions of the energy, bioindustry, infrastructure, industrial and future mobility sectors.Conclusion: let’s only touch the power markets with “fear and trembling” We thank our partners from Aquila Capital for supporting out show

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