Power firm “confident” capacity auction will work

The boss of an energy business says he is “confident” the UK’s new power auction meant to keep the lights on will be a success. The comments from the chief […]

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By Vicky Ellis

The boss of an energy business says he is “confident” the UK’s new power auction meant to keep the lights on will be a success.

The comments from the chief executive of grid balancing firm UK Power Reserve come after a trial run of the auction on Monday.

CEO Tim Emrich claims the mock auction was “well organised” and “fit for purpose”.

He adds: “We are more than confident that it’s now ‘all systems go’ for the real event scheduled to commence next week on 16th December.”

The Capacity Market auction asks large power generators to bid in to supply power for winter 2018/19.

The auctions will secure “the right price for the right level of energy security of supply”, believes Mr Emrich.