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The Government has detailed plans for the next Capacity Market auctions to ensure security of supply in the years ahead. The Department for Business, Energy and Industrial Strategy (BEIS) is looking to procure 46.3GW of reserve electricity capacity through the upcoming 2022/23 T-4 auction and a further 4.6GW in the 2019/20 T-1 auction. The auctions have a price cap of £75/kW per year and a price take threshold of £25/kW per year has been set for both. The auctions are expected to take place o...
10 07 2018
News article - 10 July 2018
Industry body Energy UK has urged a number of changes to the Electricity Market Reform mechanisms to “provide a level playing field for all participants and technologies”. Energy UK said it continued to support for the programme’s two major elements - the Contracts for Difference (CfD) and Capacity Market auctions - but makes a number of recommendations to ensure “they remain fit for purpose in future” and enabling investment at lowest cost. The vision paper’s recommendations include that ther...
29 05 2018
News article - 29 May 2018
Hear Chris Smith, Head of Renewable Sales, discussing our upcoming webinar for generators. In the webinar, we will cover: Power prices and what factors are impacting them Choosing the right PPA for your risk strategy Key trends and issues to look out for in 2018 > Register for the webinar here
14 02 2018
Blog - 14 February 2018
The Capacity Market T-4 auction cleared at £8.40/kW/year, a significant fall from the £22.50/kW seen last year. The auction secured 50.4GW of capacity for Winter 2021/2022, with existing generation winning the lion’s share. The biggest winners were existing CCGT gas (23GW) and nuclear (7.9GW), and interconnectors also fared well with 4.6GW of capacity, including 2.15GW of new build. Pre-auction expectations around the clearing price from industry experts had ranged from £25/kW/year to £17/kW/...
13 02 2018
News article - 13 February 2018
After a three-day auction of fourteen rounds, the Capacity Market T-4 auction cleared at £8.40/kW, a significant decrease from last year’s £22.50/kW. Boz Bozhkov, Head of Markets, comments on the provisional results. The Capacity Market T-4 auction closed yesterday at £8.40/kW/year, securing 50.4GW of capacity for Winter 2021/2022. Existing generation won the majority of this capacity. The pre-auction price expectations from industry experts ranged from £25/kW/year to £17/kW/year, however the ...
09 02 2018
Blog - 9 February 2018