February 8, 2018 / 3:34 PM / 15 days ago

UK secures backup electricity capacity for 2021-22 at 5-10 pounds kW/year- National Grid

Feb 8 (Reuters) - Britain secured 74.24 gigawatts of backup electricity capacity for 2021-2022 at 5-10 pounds/kilowatt (kW)/year, data on the National Grid auction website showed on Thursday.

Britain began capacity auctions in 2014, looking to head off future power shortages as coal plants close and low power prices dissuade investors from building new ones.

Power plant owners are paid to make available backup electricity at short notice. (Reporting by Swati Verma in Bengaluru; Editing by Adrian Croft)

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