Today, the System Operators published the final results for the first T-4 Capacity Auction (called T-4 2022/23) as approved by the Single Electricity Market Committee (SEMC).
The auction was successful in securing sufficient generating capacity, as determined by the System Operators, to ensure electricity security of supply across the island for the 2022/23 capacity year. The auction is a competitive process, with the cheapest generation secured to meet demand and keep consumer costs as low as possible.
This is the first T-4 capacity auction of the more competitive and efficient market arrangements which came into effect on 1 October 2018. Capacity auctions run on an annual basis and all market participants, including new investors, are able to participate.
The final auction results can be found on the SEMO website.