SSE PLC Capacity Market Auction Provisional Results (7146D)

TIDMSSE

RNS Number : 7146D

SSE PLC

02 February 2018

SSE plc

Capacity Market Auction Provisional Results T-1 2018/2019

SSE plc has provisionally secured an agreement in the GB Capacity Market auction to provide a total of 1,044MW (megawatts) of de-rated electricity generation capacity from October 2018 to September 2019.

The auction cleared at a price of GBP6.00/kW (kilowatt) with the provisional results published on 2 February 2018 and subject to confirmation by the Secretary of State for Business, Energy and Industrial Strategy.

SSE's gas-fired power station at Peterhead (1,044MW de-rated capacity) has provisionally secured the agreement.

One unit at SSE's Fiddler's Ferry coal-fired power station (425MW de-rated capacity) failed to secure an agreement. The result has no immediate impact on the station's operations as the other three units at Fiddler's Ferry have capacity obligations in the 2017/18 and 2018/19 delivery years. All four units at Fiddler's Ferry (1,710MW de-rated capacity) are pre-qualified for the upcoming Capacity Market auction for the 2021/2022 delivery year.

To secure the revenue arising from the Capacity Market, providers of generating capacity must produce electricity when the system requires it in 2018/19; failure to do so will result in penalties being levied.

The total value secured by SSE is GBP6.3m. The revenue will be received on a pro-rated basis throughout the delivery year.

The results will not impact existing operations at any of SSE's operational stations, all of which remain available this winter.

SSE already has already secured agreements for 4,409MW of its de-rated electricity generating capacity for the 2018/2019 delivery year through the 2014 Capacity Market auction.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 02, 2018 02:54 ET (07:54 GMT)