| Work Detail |
Out of 6.9 GW of prequalified battery energy storage systems (BESS), equal to 1.9 GW derated capacity, about 1.8 GW of derated BESS secured 15-year contracts in the UK’s T-4 auction – nearly double last year’s volume. Just a week earlier, the T-1 auction also set a record for BESS procurement. The UK National Energy System Operator (NESO) has released the provisional T-4 Capacity Market Auction results for delivery in 2028-29 which targeted 43.7 GW. The T-4 auction concluded on March 11, and 43.1 GW was procured across 669 units. Existing tech made up around 40 GW, or 81% of the capacity enetering the action, meaning that new build capacity, which can come at a higher price, was needed to close the gap. The auction cleared at a price of GBP 60/kW/year ($84/kW/year), down from last year’s all time high clearing price of GBP 65/kW/year. The procurement exercise came at a cost of around GBP 4 billion, up from the last year’s GBP 3.6 billion. |
