Last week’s T-4 Capacity Market clearing price jumped to £15.97/kW/y as over 100MW of storage was awarded contracts.
Ofgem has said that “more thought” is needed on how demand-side response (DSR) units can incorporate limited duration technologies, such as storage, when bidding for Capacity Market contracts.
The latest T-1 Capacity Market (CM) auction has cleared at £1.00/kW/y, with just two storage assets winning contracts, prompting renewed questions over the benefits of running such auctions.
A new report released by Aurora Energy Research states that in order to meet the government's 40GW by 2030 offshore wind goal, almost £50 billion worth of investment will be needed.
A number of battery storage assets successfully landed capacity agreements in last week’s T-3 Capacity Market auction by listing as demand side response (DSR) assets.
Capacity providers have received £1 billion in deferred Capacity Market (CM) payments, the Electricity Settlements Company (ESC) has said.
Demand side response has witnessed strong growth in Capacity Market pre-qualification results for next year’s auctions, which have also recorded the first ever inclusion of a solar farm.
Capacity Market reinstatement lifts RWE forecasts as utility boasts ‘formidable’ renewables prospects
The reinstatement of the Capacity Market, coupled with better than expected performance, has caused RWE to upgrade its full-year guidance by nearly 30%.
Tempus Energy has accused the European Commission of caving to industry pressure and rushing through its investigation into the Capacity Market, after the mechanism was cleared to be reinstated.