Michael Grubb
Michael Grubb
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How Energy Markets are Currently Stacked Against Clean Energy

8 Jan 2025 | Op-eds and guest articles

Market forces are insufficient to address climate change due to several factors. Greenhouse gas emissions are not adequately priced, and capital markets prioritize investor returns over the future welfare of humanity. Additionally, currency risks and price uncertainties in energy markets favour fossil fuels over renewables. Public policy is needed to drive clean energy investment and capture the benefits of this transition.

Published originally in a letter to the Financial Times, keep reading at UCL’s European Institute

More Outreach

Energy Bills and Prices – a wider view

3 Dec 2025

Energy costs are big news. In the UK, they have been high on the political agenda for years, though the 2022 energy crisis exacerbated the challenges: its long shadow has left millions of households saddled with ‘energy debt’ of unpaid bills, as well as further...

COP30 Belem and the Chinese dog that didnt bark

30 Nov 2025

At COP30 in Belem, the dog that didn’t bark was China. That was key to a weak outcome, tilted heavily towards the lowest common denominator. To understand future prospects for tackling climate change, first understand why, and whether and how that may change. With the...

2024 Roundup: Economics of Energy Innovation and Transition

5 Jan 2025

I’ve not done a ‘roundup of the year’ before, but 2024 proved exceptional across a range of research, political and some other developments – so here, a brief overview. EEIST. The year started with culmination of the (first phase of) the international EEIST programme...