The capacity market auction for delivery in four year’s time cleared at £15.97.
The outturn is significantly higher than recent longer term auctions, but some way below the incentive analysts have suggested is required for new large gas plant.
Drax said it’s proposed new 1.8MW combined cycle gas turbine (CCGT) at Damhead Creek exited the auction above the clearing price, as did four smaller open cycle plants.
However, SSE has taken the rate for Keadby 2, its planned new ~800MW CCGT.
Around a gigawatt of unproven DSR has taken agreements, pus some 165MW of proven DSR, alongside around 115MW of new build storage.
See the results here.
Capacity market clears at £6.44, lowest yet
33 suppliers owe £38m in CM payments
LCP capacity market auction analysis
Capacity market cleared by European Commission
Capacity market: Sara Bell on what happens next
Tempus launches fresh Capacity Market action, goes after the money
Tempus wins Capacity Market court case
EMR delivery body confirms all capacity payments suspended, auctions shelved
BEIS makes CM supplier payments voluntary but warns of immediate bill on market reinstatement
EC announces in-depth investigation into Capacity Market
Ofgem rejects plan to collect Capacity Market payments during hiatus
BEIS select committee: what is ‘Plan B’ for Capacity Market?
Sara Bell: Capacity Market failings are substantive
What has the Capacity Market ever done for us?
The money and the power: What next for the Capacity Market?
Tempus Energy: A five year old can see the Capacity Market is anticompetitive, the billion won’t be paid
Decc “confident” of beating Tempus legal challenge
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