SSE PLC Capacity Market Auction Provisional Results (3890E)
February 09 2018 - 2:38AM
UK Regulatory
TIDMSSE
RNS Number : 3890E
SSE PLC
09 February 2018
SSE plc
Capacity Market Auction Provisional Results T-4 2021/2022
SSE plc has provisionally secured agreements to provide a total
of 4,177MW (megawatts) of de-rated electricity generation capacity
from October 2021 to September 2022 in the GB Capacity Market
auction.
The auction cleared at a price of GBP8.40/kW (kilowatt) with the
provisional results published today and subject to confirmation by
the Secretary of State for Business, Energy and Industrial
Strategy.
The SSE capacity which has provisionally secured an agreement
comprises:
-- 806MW of hydro electric and pumped storage plant; and
-- 3,371MW of gas-fired and embedded power generating plant
The total value secured by SSE is around GBP35.1 million. The
revenue will be received on a pro-rated basis throughout the
delivery year. To secure the revenue arising from the Capacity
Market, providers of capacity must produce electricity or reduce
demand when the system requires it in 2021/22; failure to do so
will result in penalties being levied.
2,811MW of SSE's de-rated capacity which prequalified for the
auction did not secure an agreement. This includes:
-- SSE's proposed new build CCGT, Keadby 2 (767MW de-rated capacity).
-- SSE's coal-fired power station Fiddler's Ferry (1,743MW
de-rated capacity). The result has no immediate impact on the
station as three of the four units at Fiddler's Ferry have capacity
obligations in the 2017/18 and 2018/19 delivery years. In light of
the latest auction results, SSE will consult with major
stakeholders and make a final decision about the future of
Fiddler's Ferry beyond the station's capacity contract commitments,
which run to September 2019.
SSE's Wholesale business priorities in 2017/18 and beyond
continue to include a focus on maintaining and operating its
generation portfolio efficiently and reliably while analysing
market conditions and opportunities to create value.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCTPMBTMBMMTJP
(END) Dow Jones Newswires
February 09, 2018 02:38 ET (07:38 GMT)
Sse (LSE:SSE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Sse (LSE:SSE)
Historical Stock Chart
From Sep 2023 to Sep 2024