The difference between the market price of electricity and the cost of generating electricity from coal, often used to assess the profitability of coal-fired power plants.

The institution of the European Union where ministers from the member states meet to adopt laws and coordinate policies. It shares legislative and budgetary powers with the European Parliament.

A competitive process in which goods or services are offered to potential buyers. Pre-determined mechanisms allow for the final allocation and the decision of the price level. This is the mechanism used by EU regulators to release EUAs in the primary market.