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Capacity Market Code Modifications

Stay informed about new modifications to the Capacity Market Code regarding treatment of multiyear contracts in case of simultaneous capacity auctions. Ensure fairness in capacity awards and prevent double allocation. Timetable included for upcoming auctions.

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Capacity Market Code Modifications

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  1. Capacity Market Code Modifications Working Group 8 29 August 2019

  2. Modification Timetables • The RAs intend to publish a complete timetable for processing the modification following the completion of the Working Group.

  3. CMC_07_19: Treatment of Multiyear Contracts in the Event of Simultaneous Capacity Auctions • When two Capacity Auctions are timetabled to be run close together, Qualification for the second auction may occur before the results of the first are known. • If the first auction results in a multi-year capacity award, the current drafting of the CMC does not allow re-determination of the Net-Derated Capacity after the Final Qualification Results are published. • This could result in a CMU being awarded an RO on the same capacity in both auctions • This is clearly undesirable both for the CMU and for consumers and is not consistent with the Code Objectives • The proposed modification is intended to manage this situation to prevent the same capacity being awarded twice, while maintaining the planned Capacity Auction Timetable as much as possible. • The modification is needed for the forthcoming T-1 and T-2 (CY2020/21 and CY2021/22) Capacity Auctions given their vey close timetabling. However, the Modification is drafted to cover the general situation of which the forthcoming auctions are an example. • The modification seeks to avoid the need for the SOs or RAs to adjust an offer made by a Participant in respect of any affected capacity.

  4. CMC_07_19: Treatment of Multiyear Contracts in the Event of Simultaneous Capacity Auctions The Modification in summary: • E.9.6 allows the Final Qualification Results to be amended after they have been published, to take account of the results of the earlier auction. • F.3 recognises the potential impact of a change in Qualified Capacity on the Demand Curve and allows the RAs to amend the demand curve, if required. • F.7 manages the situation where Net De-Rated Capacity is modified after the Participant has submitted their offer into the second auction. • F.9.3 considers the situation where the results of the first auction are not available, or change, after the second auction has already taken place.

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