<Para ID="Par1">This paper analyses how short-term operational efficiency and the <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$\hbox {CO}_{2}$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <msub> <mtext>CO</mtext> <mn>2</mn> </msub> </math> </EquationSource> </InlineEquation> emissions of a power system depend on different subsidies for wind power and on the flexibility of the power system. This is analysed in the framework of a numerical power market model, calibrated...</equationsource></equationsource></inlineequation></para>