GB CAPACITY MARKET AUCTION PROVISIONAL RESULTS

RNS Number : 1290C
SSE PLC
13 June 2019
 

 

SSE plc

 

GB CAPACITY MARKET AUCTION PROVISIONAL RESULTS

 

Provisional results of the replacement year-ahead GB capacity market auction were published on the evening of 12 June and show that SSE's gas-fired power station at Peterhead has failed to secure a Conditional Capacity Market Agreement for the contract year October 2019 to September 2020.

This result will not impact existing operations at the Peterhead station, which will remain available this winter.  The station holds a Capacity Market Agreement for delivery year, from October 2021 to September 2022, for 1,062MW of de-rated capacity, which cleared at £8.40/kW.

SSE's gas-fired power station at Peterhead was the only SSE generation asset to participate in this auction.  SSE has already secured agreements for 3,150MW of its de-rated electricity generating capacity for the delivery year October 2019 to September 2020, through the 2015 Capacity Market auction which cleared at £18.00/kW.  The total value secured by SSE in the 2015 auction is approximately £57million.

To secure the revenue arising from the Capacity Market, subject to state aid approval, providers of generating capacity must produce electricity when the system requires it in 2019/20; failure to do so will result in penalties being levied.

 

Contact Details

 

 

Investors and Analysts 

ir@sse.com

+ 44 (0)345 0760 530

Media  

media@sse.com

+ 44 (0)345 0760 530

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCSFWFFDFUSEIM

Companies

SSE (SSE)
UK 100

Latest directors dealings