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National Grid confirms forthcoming Capacity Market targets following BEIS approval

Image: Getty.

Image: Getty.

National Grid has confirmed it will aim to procure 46.3GW of reserve capacity in the forthcoming T-4 2022/23 auction and 4.6GW in the T-1 2019/20 auction following approval from energy minister Claire Perry.

National Grid and the Department for Business, Energy and Industrial Strategy (BEIS) confirmed the figures this morning after the system operator’s energy capacity report and mooted capacities were rubber stamped by Perry late last week.

Both auctions have been set a price cap of £75/kW/year and a price taker threshold of £25/kW/year.

As ever, the target capacities for the auctions are subject to change.

In mid-June National Grid’s EMR delivery body unveiled its tentative dates for the auction process, detailing a streamlined auction which will start in earnest later this month when the prequalification submissions window opens.

The auctions themselves are expected to take place on 29 January 2019 (T-1 2019/20) and 5 February 2019 (T-4 2022/23).

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