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.