capacity market

  • Energy storage and flexibility

    “Each day looking for new ways to go on”: could a renewable capacity market assist hydrogen turbines?

    The rise of renewables has seen the need for additional firming capacity in order to smooth renewable output and replace coal capacity in the evening peak. The ESB and federal Ministers are currently in discussions regarding the development (or not) of a capacity market for the NEM. Interestingly from the...

  • Regulation and policy

    T-1 Capacity Market 2023-24

    The T-1 Capacity Market (CM) auction for Delivery Year 2023-24 will take place on 14 February 2023, during a particularly challenging period for the GB energy system with prices rising to unprecedented levels and concerns over security of supply. In this week’s ‘Chart of the Week’, we examine the range...

  • Energy storage and flexibility

    T-4 Capacity Market Results: New build battery storage leads the way

    On 22 February 2022, the T-4 Capacity Market (CM) auction for Delivery Year 2025-26 cleared at £30.59/kW/year. This was the highest ever clearing price in a T-4 GB CM auction and followed the T-1 auction for 2022-23, which cleared at the highest ever GB CM price of £75/kW on 15...

  • Low carbon generation

    Capacity Market prequalification: Lack of nuclear capacity opens opportunity for new build capacity

    In its role as the EMR Delivery Body, National Grid ESO published the prequalification registers for the upcoming Capacity Market auctions, on 23 November. The registers detail the assets that have either prequalified, conditionally prequalified or been rejected ahead of the T-1 and T-4 auctions for delivery in 2022-23 and...

  • Energy storage and flexibility

    Australian Chart of the week | Slip slidin’ away, You know the nearer your destination

    In our previous ‘Chart of the week’ back in November 2020 (Issue 61), we looked at the projected uptake of battery storage projects in the National Electricity Market (NEM). Nine months on, with a number of large projects announced, we felt it was worth an update. In our last chart,...

  • Energy storage and flexibility

    Chart of the week | We built this city… on existing generation

    The Capacity Market (CM), introduced under the Electricity Market Reform (EMR) policy programme is designed to ensure security of electricity supply in GB. This is done by providing payments – determined through a competitive auction– to generators and eligible demand side response (DSR) and can encourage existing plant to remain...

  • Low carbon generation

    Chart of the week | Out with the old? Capacity Market Prequalification

    On 11 December 2020, the EMR Delivery Body (National Grid ESO) published the prequalification registers for the T-1 (2021-22) and T-4 (2024-25) Capacity Market (CM) auctions. In this 'Chart of the week', we explore the prequalification picture for the T-4 auction and what this could mean in terms of pricing...

  • Low carbon generation

    Chart of the week | What might compete in upcoming Capacity Market auctions?

    The next round of Capacity Market (CM) auctions are set to take place in March 2021, starting with the T-1 (Delivery Year 2021-22) on 2 March followed by the T-4 (Delivery Year 2024-25) on 9 March. The prequalification window for these auctions have been open since 20 July 2020 and...

  • Low carbon generation

    Chart of the week | We’ve got the power: T-4 Capacity Market results

    On 6 March, the EMR Delivery Body (National Grid ESO) published the provisional result of the T-4 Capacity Market (CM) auction for Delivery Year 2023-24. The clearing price for the auction was the highest value since 2016. In this week's Chart of the week, our expert, Lee Drummee explores some of...

  • Low carbon generation

    Chart of the week | Swing low: T-3 Capacity Market auction

    In this week's Chart of the week, we discuss the provisional results of the T-3 Capacity Market (CM) auction for Delivery Year 2022-23, published on Friday 31 January by the EMR Delivery Body (National Grid ESO). The clearing price was £6.44/kW/year, the lowest ever in a multi-year (T-4 or T-3) Capacity Market auction....

  • Commercial and market outlook

    Chart of the week | It’s the final countdown…2109 in review

    As 2020 approaches we trade in our reports for gift wrapping and our coffee is set aside for mulled wine. Let’s take a moment to reflect on the topics of 2019 that have garnered the most interest from our complimentary Chart of the Week publication. Our popular weekly publications are...

  • Energy storage and flexibility

    Chart of the week | Charging in: New BM entrants and Wider Access

    While National Grid ESO has been granted a derogation until 30 June 2020 to implement project TERRE; Wider Access, its project to increase accessibility to the Balancing Mechanism (BM), is still scheduled to go-live on 11 December 2019. In this Chart of the Week we analyse recent activity of aggregated units and...

  • Regulation and policy

    Chart of the week | Come what May – sector activity ramps up before summer

    May has seen a number of notable developments within the industry. By coincidence – or perhaps due to various parties not wanting their deadlines of “spring” to slip into “summer” – a number of workstreams hit significant milestones this month. In this week's Chart of the Week, we explore some of these major...

  • Low carbon generation

    Chart of the week | Capacity Market oversupply continues – but for how long?

    In this week's Chart of the Week, we put our focus on the Capacity Market as on 13 May 2019, Secretary of State for Business, Energy and Industrial Strategy Greg Clark wrote to the Delivery Body to update the target procurement volumes for the replacement T-1 2019-20 capacity auction which is being...

  • Low carbon generation

    Chart of the week | Supplier impacts of Capacity Market suspension

    Following the judgement from the General Court of the Court of Justice of the European Union on 15 November, the Capacity Market (CM) is now in a period of “standstill”. No payments to CM agreement holders will be made until the scheme regains State Aid approval. As well as this,...

  • Low carbon generation

    Chart of the week | In with the old, out with the new: T-4 Capacity Auction

    The latest Capacity Market register for the T-4 auction was released on 22 December 2017, with an update expected today (12 January 2018). The December register includes a 2.9GW (4%) reduction in prequalified capacity, compared to the initial register. In this week's Chart of the week, we look at the...

  • Low carbon generation

    Chart of the week | Swamped – the T-1 Capacity Auction

    National Grid issued its Electricity Capacity Report (ECR) on 9 July 2018. The Secretary of State replied to this on 9 July confirming the amount of capacity to be procured. This totals 4.6GW in the 2019-20 T-1 Capacity Auction. This week's chart of the week highlights our initial analysis which...

  • Low carbon generation

    Chart of the week | The capacity to beguile

    Today's chart of the week looks at the results of yesterday's capacity market auction for the delivery in 2021/22. The results of which can best be described as beguiling. 50.4GWs was bought at just £8.40/KW (in 2016/17 values). This was well below the equivalent clearing prices of £18.11/KW and £22.61/KW...