Responding to today’s judgment by the General Court of the European Union in relation to the Capacity Market, Energy UK’s chief executive Lawrence Slade said:
“We are extremely disappointed by today’s General Court judgment as the Capacity Market has proven that it can successfully deliver security of supply at the lowest cost to consumers.
“We are already working closely with BEIS and are fully supportive of their efforts to work with the European Commission to reinstate future auctions and continue the CM scheme. Given the serious financial implications for capacity providers as well as the need for investor certainty and security of supply, this issue needs to be resolved as soon as possible.”
Notes to Editors: See also information from BEIS, National Grid and Low Carbon Contracts Company