Uniper power stations successful in U.K. capacity market
All of Uniper's power stations in the United Kingdom were successful in the latest capacity market auction, which is for October 2020 to September 2021. During this period they will help ensure the reliability of the U.K. electricity system during periods of peak demand. National Grid, the U.K. transmission system operator, concluded the auction on December 8 and published the provisional results. The auction set a clearing price of £22.50 per kilowatt of reserve capacity, markedly above the prices of the previous two auctions, which were for 2018/2019 and 2019/2020. National Grid will announce the final results on December 20.
The clearing price £22.50 per kilowatt is for keeping capacity available and is paid regardless of how often the power stations are actually dispatched. Power stations continue to be paid when they generate electricity and deliver to the market. All seven of Uniper's power stations in the United Kingdom, which together comprise almost 6 gigawatts of capacity, were awarded agreements in this year's auction.
Participating in capacity markets in Europe facilitates long-term planning of Uniper's generation fleet's revenues. At the same time, the company can help these countries ensure their energy supply at times of system stress. Last year, long-term contracts with industrial customers and fixed compensation for system services accounted for about 40 percent of Uniper's EBITDA in European power generation.
This press release may contain forward-looking statements based on current assumptions and forecasts made by Uniper SE management and other information currently available to Uniper. Various known and unknown risks, uncertainties, and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Uniper SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.
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Issuer: Uniper SE
Key word(s): Energy