Provisional results for GB T-1 capacity auction14 Feb 2023
The provisional results of the latest T-1 capacity auction in Great Britain were published on Tuesday 14 February, with a total of 5,783MW in capacity contracts awarded to capacity market units at an auction clearing price of £60/kW.
SSE Thermal has provisionally secured contracts for 1,487MW of de-rated* electricity generation capacity for the delivery year 2023/24, which runs from 1 October to 30 September.
This includes its Keadby 1 (726MW) and Medway (671MW) gas-fired power stations, as well as its smaller embedded plants at Burghfield (45MW) and Chickerell (45MW). All of SSE Thermal’s other generating units have existing contracts until at least September 2026.
As electricity demand increases exponentially in the years ahead, flexible and reliable power will continue be required to back up wind and solar generation, ensuring security of supply across the UK. In line with its commitment to a net zero future, SSE is actively progressing plans to deliver new low-carbon capacity to play this critical role, with world-leading carbon capture and storage (CCS), hydrogen and pumped hydro projects in development.
The provisional results are subject to confirmation by the Secretary of State for Energy Security and Net Zero (ESNZ).
*A de-rating factor is applied to all capacity according to rules set by the UK Government.