Plants secured an all-time high price of £65 a kilowatt hour for the 2027-28 financial year yesterday in a capacity market auction to supply power, outstripping the £63 for the year before, National Grid's electricity system operator said.
The annual auction sets a subsidy price to pay owners of power generators including gas, hydroelectric, wind and solar projects - and battery storage facilities to cover the cost of meeting the nation's electricity demand. The costs are covered through consumer bills.
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