January 31, 2020 / 7:19 PM / 22 days ago

UK power capacity auction for 2022/23 clears for 6.44 pounds per kilowatt per year

LONDON (Reuters) - Britain secured 45.06 gigawatts of backup electricity capacity for 2022/23 at 6.44 pounds per kilowatt per year, data on the National Grid (NG.L) auction website showed on Friday.

Britain launched its power capacity market in 2014, offering to pay providers for making supplies available at short notice.

Reporting By Eileen Soreng and Susanna Twidale; editing by David Evans and Chizu Nomiyama

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