The seven countries, led by Denmark, said in a letter that Europe's existing market design has fostered years of lower electricity prices, helped expand renewable energy, and ensured enough power was produced to meet demand and avoid shortages. "We must resist the temptation to kill the golden goose, that our single market for electricity has been in the last decade," said Lars Aagaard, Denmark's energy minister. But any changes must ensure the market still functions and incentivises massive investment in renewable energy, they said. Electricity industry lobbying group Eurelectric has also warned against making CfDs mandatory, which it says could undermine competition in the power market and deter investors. "That could compromise investors' confidence in the needed investments," the countries said in the letter, citing EU estimates that hundreds of billions of euros in renewable energy investments are needed annually to help countries quit Russian fossil fuels.

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