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Capacity Market

GB Capacity Market update

The story around the GB Capacity Market continues, following its suspension last November (see here) and the start of an appeal (see here).

Ofgem, GB’s  National Regulatory Authority,  has rejected the proposal  to continue with Capacity Market payments using a temporary scheme as per “notice P378” for now. This is because Ofgem do not believe they have the power to make the modification to the Balancing and Settlement Code as outlined in P378. The decision notice can be found here.

In parallel, the European Commission has opened a detailed investigation into the scheme, as announced in this press release. The Commission, who were supporitve of the market design to begin with,  are required to continue with this, despite also appealing against the ECJ decision.

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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