RWE Generation statement on the first UK capacity auction

This morning DECC announced that the first UK capacity auction has cleared at £19.40/kW. 49,258.938 MW has been secured for UK for delivery in Q4 2018.

DECC has released a provisional list of the UK assets which have successfully secured a contract, which you can view here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/389512/Provisional_Results_Report_final.pdf

This information is still subject to Secretary of State approval.

This provisional announcement suggests that RWE Generation has secured contracts for all of the sites that were entered into the auction - 8,011.604 MW (derated capacity), with just one exception: Grimsby Cogen (13MW). We look forward to confirmation of the results from the Secretary of State in due course.

RWE Generation can produce around 9,500MW (full rated commercial capacity) of electricity and operate the most efficient gas fleet in the UK. During the first nine months of 2014, the UK generation business has made a substantial loss.