February 21, 2019 / 10:59 AM / 6 months ago

EU regulators to probe UK power capacity scheme after court veto

BRUSSELS (Reuters) - EU state aid regulators opened on Friday an in-depth investigation into Britain’s capacity market scheme, three months after an EU court scrapped its 2014 decision approving the project.

The Luxembourg-based General Court ordered the European Commission to get more details on certain elements of the mechanism which pays utilities to make electricity available at short notice.

“The Commission’s investigation will focus, in particular, on the participation of energy consumers offering to reduce their electricity consumption in times of supply disequilibrium in the electricity market,” the EU executive said.

Centrica, SSE and Drax had won contracts under the scheme.

The British government has said that in the event of a so-called hard Brexit, where Britain exits the bloc without further agreements, British legislation concerning state aid - under which capacity auctions take place - comes into law.

Reporting by Foo Yun Chee

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