Capacity Market
The Big Six energy supplier has also lost 160,000 customers
The European Commission has not yet opened an in-depth investigation into the UK’s power auction scheme
BEIS reiterated it is ‘working closely’ with the European Commission on the necessary steps for the scheme to be investigated ‘as quickly as possible’
The business and energy secretary believes cheap power ‘is now green power’
The government said the decision ‘poses no issues for our security of supply’ and is working to reinstate it ‘as soon as possible’
The European Court of Justice has suspended the scheme which means the UK cannot hold any auctions either until it receives clearance
It is believed to be the largest contracted energy storage portfolio transaction
The scheme provides payments to generators for making capacity available or reducing demand when required to do so
Sustainability is key to the future of Earth.
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