capacity market

Ofgem’s ninth report on the operation of the capacity market (CM), covering the period between 1 October 2023 and 30 September 2024, shows the 2023/24 T-4 auction received 810 prequalification applications.

The UK Government has published its response to the Capacity Market (CM) Phase 2 consultation and 2024 rule amendments to support auction liquidity.

GridBeyond has signed a deal with Stagecoach to optimise its EV fleet and integrate renewable energy into its business strategy.

SMS has started testing Interoperable Demand Side Response (IDSR) solutions as part of the UK government’s Flexibility Innovation Programme.

The T-1 Capacity Market Auction for delivery year 2024/25 concluded yesterday (20 February) clearing at £35.79/kW/year - 40% less than the £60/kW/year cleared in the 2023/24 auction.

DESNZ has accepted National Grid ESO's recommendations to increase the forthcoming one-year ahead (T-1) and four-year ahead (T-4) auction targets to 0.3GW and 0.5GW respectively.

Average battery energy storage revenue for the balancing mechanism fell by 16% in December 2023 according to Modo Energy, to £2.5k/MW.

The energy regulator Ofgem has opened a review into capacity market rules stating that they still “remain appropriate” ten years on.

The T-4 Capacity Market auction has cleared in its third round at a record high of £63/kW/year, more than double last  record high price.

In this week’s edition of Current± Price Watch – powered by Enact – we take a look at the caution suggested by the high T-1 Capacity Market clearing price, the changing face of nuclear in Britain and the saving seen by industrial participants in the ESO’s Demand Flexibility Service.