Capacity auction prices show how energy security has been undermined

Prospect has responded to today’s electricity capacity auction. The auction saw record high prices and a failure to attract enough interest to meet the capacity requirement set by government.

Sue Ferns, Prospect senior deputy general secretary, said:

“The record high prices in the latest Capacity Market auction are yet another sign of how our energy security has been undermined by a persistent failure to properly plan for when the wind doesn’t blow and the sun doesn’t shine.

“This is an urgent wake-up call to government to get on with the job of delivering a new fleet of nuclear reactors that can provide the always-on, low-carbon power we need to complement renewable energy.”