Britain secures backup electricity capacity for 2019/20

Britain secures backup electricity capacity for 2019/20

(Reuters) – Britain secured backup electricity capacity for 2019/20 on Thursday, awarding contracts to power plants for 46.35 gigawatts (GW) at 18 pounds per kilowatt per year, according to the preliminary results of an auction.

Details of successful bidders are expected to be published on Friday. The auction results are subject to verification.

Britain's capacity market mechanism is designed to ensure backup power is available when intermittent renewable energy sources fail to produce electricity.

(Reporting by Karolin Schaps in London & Rishika Sadam in Bengaluru; Editing by Mark Potter)

Source: “Reuters”