News

Securing future electricity supply

The second Capacity Market auction has successfully concluded, securing capacity for 2019/20.

The auction attracted enough bidders to secure the capacity needed at a competitive price for consumers – 46.354GW at a price of £18/kW.

The second Capacity Market auction has successfully concluded, securing electricity generating capacity for 2019/20. The auction attracted enough bidders to secure the capacity needed at a competitive price for consumers. The amount secured – enough to provide almost all the capacity we need – cleared at a price of £18/kW, over £1 cheaper than last year. Buying capacity four years ahead of the delivery year maximises the range of participants that can compete in the auction, thereby promoting competition.

Energy Minister Andrea Leadsom said:

“Our number one priority is to ensure that hardworking families and businesses have access to secure, affordable energy supplies they can rely on.

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.”

The Author

Gemma Gaughan
Media Researcher
BiP Solutions

Share this story...

 
 

The Author

Gemma Gaughan
Media Researcher
BiP Solutions

Share this story...

 
Please wait...

Stay in the loop

Sign up to our mailing list today and be the first to know about updates in procurement from BiP Solutions.
BiP Solutions