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This paper reviews the German energy policy framework, commonly known as 'Energiewende', which aims to transform and decarbonise the German energy system. We look at the achievements made over the last 8 years and discuss the implications, e.g., in terms of costs and rents, for consumers and producers of electricity in Germany and beyond. German policy makers have been successful in deploying new technologies, but have so far failed to achieve CO 2 emission reductions. Producer rents were significantly cut, while the subsidisation of renewables has led to a sharp increase in end-user prices. The challenge now is to start moving the energy transition beyond power generation and achieve emission savings in the transport, industry, and buildings' sectors.