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Brexit, Capacity Market, Clean Energy Package, REMIT

GB Capacity Market developments

Last November, the GB Capacity Market was suspended, following a ruling by the European Court of Justice (ECJ) that the design broke the state aid rules of the European Union (see here).

Since the suspension, the UK’s department for Business, Energy and Industry Strategy (BEIS) has announced that  existing payments will be honoured for now, and that a top up auction will be held for 2019-2020. The update page related to the matter can be found here. BEIS has also opened a consultation on possible changes to the capacity market, which can be found here.

The CEO of Tempus Energy, who brought the case against the Capacity Market, has written this open letter to the BEIS energy security team. It argues that contrary to the government stated position, the reason for the ruling is because of problems with the design of the market, rather than procedural issues.

 

 

About avivhandler

Aviv is the Managing Director of ETR Advisory, a niche consultancy focused on the regulation of the commodity, energy and financial markets. He has more than 23 years of experience in the financial, energy and commodity markets, covering regulatory compliance, credit, risk and financial technology. Prior to founding ETR, he was Partner at SunGard Global Services, where he built a Centre of Excellence in European Energy and Commodity Regulation. Before that, he founded Coherence, a consulting firm specializing in credit risk in commodity and energy trading as well as software product management. The credit practice ultimately became part of Sirius Solutions, where he was the Managing Director of Europe. He has also held management roles at KWI and Iris Financial, among other organizations. Mr. Handler holds a degree in computer science from Imperial College, University of London.

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