Energy UK responds to EC's decision to appeal against UK Capacity Market ruling
Responding to the EC’s decision to appeal against last November’s General Court ruling on the UK Capacity Market, Energy UK’s chief executive, Lawrence Slade said:
“The Capacity Market (CM) has delivered what it was set up to do – keeping the lights on at the lowest cost to consumers - and it should continue to play a vital role in an orderly transition to a low carbon future, which is why we support the EC’s decision to challenge the ruling.
“The CM has increasingly been supporting newer capacity providers - and as a competitive, technology neutral process it can’t be characterised as unduly favouring any particular source. At the same time, we do want to see it give even more of an opportunity to newer technologies – including renewables – in future so it can continue to support the energy transition even more effectively.
“The best way to do that is to reform the CM rules - not upturn it overnight, which has put new and existing projects - across all technologies - in jeopardy, damaged investor confidence and threatened long-term security of supply.
“In the meantime, we also expect that the EC will start its new investigation into the CM as soon as possible as the best way to resolve this issue quickly.”