The second UK’s capacity market auction has concluded securing 46.354GW at a price of £18/kW for 2019-2020, more than £1 cheaper than the first auction.
The auction monitor must report to the Secretary of State within two working days of the auction closing on whether the procedures in the rules and action guidelines have been properly followed.
The Secretary of State decides whether the auction results should stand based on the report.
If everything is deemed correct, National Grid will then make public the final auction Results within eight working days of the capacity auction concluding.
National Grid will then issue capacity agreement notices to those awarded a capacity agreement within 20 working days of the auction results day.
Energy Minister Andrea Leadsom said: “This result represents a good deal for customers – fierce competition in the capacity market has driven down costs, meaning future capacity has been secured the lowest price possible.”
Eon UK said: “We understand that these results are provisional but, as they stand, we’re pleased that all our plant were successful in the auction process and can continue to play an active role in helping to ensure the UK’s electricity system remains secure.”
Image: National Grid
