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 for the 2019/20 and 2020/21 auctions respectively. This was closer to year ahead prices than logic would suggest feasible.

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