On 28th March 2019, EirGrid and SONI held the first four-year ahead Irish Capacity Market auction for delivery year 2022/23.
In this bulletin, we provide our reflections on the final auction results published on 7th May 2019.
The auction cleared at a price of €46,150/MW-year (or £43,030/MW-year) at the Existing Capacity Price Cap.
The vast majority (90%) of the cleared capacity came from existing units consistent with prequalified existing capacity significantly exceeding the capacity requirement for the auction
710 MW of new capacity cleared in the auction, nearly all of it (98%) in the Republic of Ireland, and three-quarters (526 MW) of which is expected to be located in the Greater Dublin Area.