Centrica Says 2 UK Power Stations Awarded Capacity Agreements
December 19 2014 - 2:37AM
Dow Jones News
By Alex MacDonald
LONDON-- U.K. energy utility, Centrica PLC (CNA.LN) said Friday
that its Langage and South Humber gas fired power stations have
been awarded one-year capacity agreements starting in October
2018.
All capacity agreements are subject to final approval from the
U.K.'s Department of Energy & Climate Change, which is expected
no later than Jan 5, with a view to issuing a capacity agreement
notice no later than January 30.
Companies bid to win capacity agreements from the U.K. grid
operator National Grid PLC (NGG). The capacity agreements provide a
steady payment for maintaining power generation capacity in return
for a commitment to deliver electricity when needed or face a
penalty linked to the amount of electricity that the utility failed
to deliver.
Centrica owns and operates six gas-fired power stations in
England and Wales, with a combined output of 3.7 gigawatts.
-Write to Alex MacDonald at alex.macdonald@wsj.com
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