The T-1 Capacity Market auction has completed, for delivery 2024/25. The EMR Delivery Body (National Grid ESO) has announced that the capacity auction has cleared at £35.79/kW.

This provisional announcement suggests that RWE has secured an Agreement for our Cheshire existing capacity market unit (CMU) Open Cycle Gas Turbine (OCGT) 42.253 MW (derated capacity), Cheshire Existing Reciprocating Engines 18.845 MW, and, Grimsby B Newbuild Reciprocating Engines capacity 18.870MW.

We are pleased with this early indication and look forward to confirmation of the results from the Secretary of State in due course.

We are now looking towards participating in the T-4 auction next week.

Cheshire Reciprocating Engines and, Grimsby B Reciprocating Engines have already each received a 15 year Capacity Market agreement for £30.59/kW (real 2020/21) in the CM21 T-4 Auction for delivery from 2025-40.