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Posted 1 year ago | 2 minute read
GridBeyond secures 175.467MW in T-1 Capacity Market auction clearing at £60,000 per MW
The T-1 Capacity Market auction has cleared at £60/kW which is the second high clearing price so far after last’s year record. GridBeyond was able to secure 175.467MW in the T-1 action. The company has also previously secured 166.922MW in the T-4 for 2023/24 delivery year which cleared at £15,970/MW.
Given the significant value achieved, GridBeyond enabled multi customers to directly participate in the T-1 23/24 auction. Providing pre-qualification services prior to the deadlines, enabling projects to meet project-specific milestones, and facilitating the bidding strategy and execution in the T1 auction. A new build battery project benefiting from this service included a unique asset developed by leading UK BESS developer Fig Power (a sister company of Hydrock).
Mark Davis, GridBeyond Managing Director for UK and Ireland commented:
“Fantastic that GridBeyond have been able to support our extensive and longstanding customer base of industrial, commercial, and BESS customers access the capacity market, an increasingly important and significant revenue stream. For Demand side customers this is offsetting increased energy costs, demonstrating how GridBeyond has been able to identify and utilise flexibility in production processes to access capacity market value. Further, we have been able to support new build Batteries access secure income to complement the market-leading value that can be earnt via the GridBeyond trading and optimisation suite”.
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