(Reuters) – Britain’s auction to ensure enough electricity capacity for 2025/26 has cleared at a 30.59 pounds ($41.54) per kilowatt (kW) per year range, National Grid said.
A total quantity of 42.36 gigawatts (GW) of capacity was procured, National Grid said.
Britain launched its power capacity market in 2014, offering to pay providers for making supplies available at short notice.
Britain usually holds auctions for power capacity about four years in advance of the delivery date and another auction for a smaller amount of capacity around a year before delivery.
Out of the total 42 GW procured, 27.6 GW was from gas-fired power plants, nearly 7 GW from interconnectors and 2.5 GW from pumped storage, and the rest from other sources, a provisional auction document showed.
About 77% of the capacity procured in the auction was from existing power assets, the auction results showed.
Utilities such as Centrica, Uniper, SSE, Drax Group and E.ON were among winners of agreements.
($1 = 0.7364 pounds)
(Reporting by Brijesh Patel in Bengaluru and Marwa Rashad in London; editing by Nina Chestney)
