The results of the first UK capacity market auction were confirmed by DECC on Friday 2 January. The auction procured 49.26GW of capacity at a clearing price of £19.40/kW and an overall cost to consumers of £0.96bn. DECC confirmed that it would, later in January, update its estimate of the mechanism’s impact on bills for the period 2016-30. Energy and climate change secretary Ed Davey said: “This is fantastic news for bill-payers and businesses. We are guaranteeing security at the lowest cost for consumers. We’ve done this by ensuring that we get the best out of our existing power stations and unlocking new investment in flexible plant.”
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