European leaders today failed to reach an agreement on the reform and regulation of the electricity market. Over the weekend, France’s energy minister said energy ministers could reach an agreement today, but talks would have to end.

The aim is to stop such price jumps, which stirred up the European economy last year.

There are plans to create a system of “contracts for difference” as well as long-term electricity contracts to create price stability. One problem is that not all countries want the CFD system to be mandatory. Another problem is that Sweden wants to continue subsidizing coal.