UPDATE: The Capacity Market notice issued by National Grid ESO for 8:00pm was withdrawn just prior to the settlement period's commencement, at 7:40pm.
National Grid ESO has issued two electricity Capacity Market notices as power demand was expected to surge in light of a heatwave affecting most of Europe.
The system operator has today (18 July) issued two separate Capacity Market notices – usually issued in response to demand peaks during the winter period – after the margin between demand and supply fell to within the operator’s threshold.
The first notice was issued at 2:34pm for 7:00pm, however the notice was dismissed around 30 minutes later.
A second notice was issued at 3:34pm for the period starting 8pm and at the time of publication the notice remains in place.
The heatwave has sent temperatures soaring to as high as 38 degrees Celsius today and, as today’s edition of Current± Price Watch has indicated, pricing on Britain’s power markets has been turbulent as a result.