Lessons Learned From the UK’s Latest Capacity Auction

By [email protected] A U.K. capacity market auction this month served up a lesson for market planners, after delivering prices so low as to discourage clean energy development.

The T-4 auction, which aimed to secure power capacity for 2021 and 2022, smashed pricing expectations with a clearing price of GBP £8.40 ($11.73) per kilowatt a year, down almost 63 percent from the £22.50 ($31.44 at current rates) achieved in a similar contest last year.

The result was hailed as a victory for U.K. bill payers.

“This capacity market auction clearing low once again proves that competition is successful at providing security of supply at the lowest

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