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UK 2017 power capacity auction ends with price of 5-10 stg/KW/yr

Reuters - UK Focus

LONDON, Feb 3 (Reuters) - Britain's 2017 electricity capacity auction produced a price range of between five and 10 pounds per kilowatt (kW)/year, National Grid (LSE: NG.L - news) said in a tweet on Friday, well below analysts expectations.

Analysts had expected the auction to produce a price of around 20 pounds, based on previous auctions. The exact strike price will be published at 2000 GMT.

The last auction in December, for 2020/21 supply, produced a price of 22.50 pounds per kW/year, but analysts have said a price of 35-45 pounds is needed to spur new gas plant investment.

(Reporting by Nina Chestney. Editing by Jane Merriman)