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e-POWER Update

New record set in e-POWER auction

30th January 2018

Starting on 23rd January and lasting for three days, the largest e-POWER auction to date included a portfolio of 65 generators representing some 280MW of capacity. As usual bidding activity was high with an average of 16 bids per site, one Hydro site receiving a total of 50 bids!

Most technologies were represented; 22 wind, 8 Hydro, 5 Waste to Energy, 1 Biomass, 6 AD, 14 PV, 6 LFG, 1 CHP and 2 mixed tech (LFG and PV). 30 of the sites were for power only (of which 11 were FIT contracts), the other 35 were sold with ROCs. Contract lengths were split pretty evenly between 6 months and 12 months; all with PPA starting dates of 1st April.

Again, as in other recent e-POWER auctions it was noticeable that sites sold with ROCs were receiving quite up upside in values, indicative of bidders building in value for CP17 ROC recycle.

Cornwall Insight will be producing independent analysis of the results from this auction shortly.

The next e-POWER auction will be held on 27th February and it is worth noting that e-POWER not only auction the power for the generator but look after all billing and settlement requirements.