This regulation introduces a one-off Capacity Market auction, which will take place in early 2020 (T-3 auction).
This replaces the postponed 'T-4' auction that was originally planned for February 2019 and concerns the 2022/23 delivery year. Further renewable generating technologies will also become eligible to participate in the Capacity Market.
The Electricity Capacity (No.2) Regulations 2019 will amend the Electricity Capacity Regulations 2014 and Electricity Capacity (No.1) Regulations 2019 on the day after this draft legislation becomes a statutory instrument.
What is being amended?
A one-off Capacity Market auction will take place in early 2020 (T-3 auction). This will concern the 2022/23 delivery year and replaces the postponed ‘T-4’ auction that was originally planned for February 2019.
This regulation amends the Electricity Capacity (No.1) Regulations 2019 so that credit cover for the upcoming capacity auctions is suspended until after State aid approval is obtained.
The requirement to post additional credit cover for the T-3 auction is shortened to 9 months to reflect the shorter period between the auction and the start of the delivery year.
Further renewable generating technologies will become eligible to participate in the Capacity Market.
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