Capacity Market

Introduced alongside CfDs in 2014 to ensure firm capacity as intermittent renewables grew. Providers bid in descending-clock auctions to be available during system stress events. The first T-4 auction (December 2014) procured 49.3 GW at 19.40/kW. Suspended for eleven months in 2018-19 after a state aid challenge, then reinstated. Data from NESO and the Low Carbon Contracts Company.