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UK electricity capacity auction for 2024/25 clears at 18 pounds/kW/year

Reuters
Migrating starlings fly at dusk past electricity pylons silhouetted by the sunset of a clear autumn evening in the Kent countryside, in Graveney, Britain

LONDON (Reuters) - Britain's auction to ensure enough electricity capacity for 2024/25 has cleared at a 18 pounds per kilowatt (kW) per year range, National Grid said on Wednesday.

A total quantity of 40.8 GW of capacity was procured, National Grid said.

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

($1 = 0.7180 pounds)

(Reporting by Susanna Twidale and K. Sathya Narayanan; editing by Jason Neely)