EirGrid has published the final results of the latest T-1 and T-2 capacity auctions for the Single Electricity Market. This follows the provisional results for both auctions which were published on the 5th December and the 17th December respectively.
The final results of both auctions confirm the provisional results published in December.
Through the T-1 auction, sufficient capacity was procured to meet security of supply for the period October 2020 to October 2021.
And through the T-2 auction, sufficient capacity was procured to meet security of supply for the period October 2021 to October 2022.
The auctions are a key element of the market and are designed to deliver a reliable electricity supply at the least possible cost. They also promote investment in new, efficient power plants into the wholesale electricity market.
The auctions are run by EirGrid and SONI (System Operator for Northern Ireland) in their roles as Transmission System Operators in Ireland and Northern Ireland respectively, through the joint venture SEMO (Single Electricity Market Operator).
For more information, call David Martin on 085 603 0969.