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Aurora Spring Forum, March 2018

The Aurora Spring Forum is one of the leading gatherings of the European energy industry; bringing together industry leaders in an exclusive and intimate setting at Oxford University to engage on key issues impacting GB, European and global energy markets. Throughout the day, delegates will discuss the policy, technology and finance perspective of the energy transition as well as the competition and interplay between conventional and renewable energy.

Our keynote speakers will include The Rt Hon Greg Clark MP (Secretary of State, BEIS), Magnus Hall (President & CEO, Vattenfall), Rachel Reeves MP (Chair BEIS Select Committee) and Alistair Phillips-Davies (CEO, SSE)

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The 2021/22 T-4 Capacity Market (CM) auction cleared at £8.40/kW last night (February 8), marking the lowest T-4 CM price to date. While the clearing price was lower than market expectations, the actual winners and losers were not difficult to predict. Aurora has analysed the results and presents its view on the outcomes:
  • 2021/22 T-4 auction cleared lower than market expectations but winners & losers in line with Aurora’s prediction
  • Only 2 coal units secured contract, confirming the gradual phase out of coal in GB
  • Interconnectors are the big winner; access to subsidies and exemption from changes put them at an advantage to other new build. Aurora’s study questions the benefits of more interconnectors for the GB system.
  • Tight market sees new build being crowded out by existing capacity and new build interconnectors. However, declining costs and improving economics could see more new build entering in future auctions
  • Future auctions see different set of drivers; low clearly prices are not likely to persist
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Aurora Energy Research provides data and analytics on UK, German, European, and global energy markets. Aurora Energy Research provides data and analytics on UK, German, European, and global energy markets. The result is bankable intelligence that drives commercial lending and investment decisions, and national policy formulation.

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