The T-4 Capacity Auction for delivery in 2024/25 concluded last week, clearing in Round 12 with a clearing price of £18/kW/year and a total procured de-rated capacity volume of 40.8GW. A total of 52.0GW of de-rated capacity entered the auction, 79% of which was accepted.
FCR prices have become more volatile and will continue to be so in the future due to increased renewable generation, decreasing conventional generation and growing uncertainty across generators - mostly driven by France. Significant periods of low FCR supply are expected.
A new ancillary service, dynamic containment, procured by National Grid to manage the frequency of Britain’s electricity system remains undersubscribed more than four months after its launch in October 2020, but is showing its potential as a useful new revenue stream for battery projects.
National Grid updates the electricity and gas markets annually with its new Future Energy Scenarios and this year’s edition sees a significant shift as it has been adjusted to accommodate Net Zero 2050 targets within three of the four offered scenarios.
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