RWE Generation SE

UK capacity auction for delivery in 2027/28 finished: RWE secured 31 capacity agreements

  • The auction cleared at £65 /kW/year 
  • All of RWE assets successfully secured an Agreement

Swindon, 27 February 2024

The T-4 Capacity Market auction has completed for delivery 2027/28. The EMR Delivery Body (National Grid ESO) has announced that the capacity auction has cleared at £65 /kW/year, 42,831 MW of capacity has been secured for the UK.

A provisional list of the UK assets that have successfully secured an Agreement can be viewed here. This information is still subject to Secretary of State approval.

RWE has secured Agreements for all of the Capacity Market Units (CMUs) that were entered into the auction. This means RWE has 6352.7 MW (derated) of capacity agreements for the 2027/28 delivery year. For the first time, RWE has been successful in securing seven CM agreements for its hydro sites and four CM agreements for co-located battery plants, ensuring renewable capacity can participate in security of supply.

The UK Capacity Market remains an important part of the UK energy market design and has provided stability for RWE’s generation business over the past decade. As one of the largest generators in the UK, RWE is committed to investing and expanding its green generation capacity, and has ambitions to invest around 8 billion euros net in clean energy infrastructure in the UK between 2024-2030. This energy transition will support the UK on its journey to net zero and help to support lower energy prices in the longer term.;

RWE is the UK’s largest operator of Combined Cycle Gas Turbine (CCGT) power plants with a fleet of around 7GW installed capacity providing security for the country’s energy supply. The company is driving an accelerated pace of transition as it develops carbon capture and storage projects at four sites alongside developing hydrogen combustion options to decarbonise its sites. The company target is for the first of its fleet to be converted to decarbonised operation before 2030.

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