Abstract
This paper analyses the introduction of capacity remuneration mechanisms (CRMs) in Europe, focusing on Britain and Germany. We show how CRMs in these countries are evolving from government interventions to deal with electricity system reliability issues to become important policy instruments aimed at addressing a wide range of economic and societal challenges related to decarbonisation. We pay particular attention to the ambiguous role that CRMs play as tools for governing the decarbonisation of electricity systems. On the one hand they are being legitimised by governments as a means of facilitating the integration of renewables, while at the same time they are seen by many actors as a contributor to carbon lock-in and a means of prolonging the fossil-fuel industry. We discuss key factors shaping the ambiguous role of CRMs in electricity system decarbonisation and their relation to the politics of sustainable energy transitions.
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