On 26th January 2024, the SEM Committee hosted a Senior Stakeholder Forum to provide an opportunity for industry participants to engage with us to raise any issues that could be addressed within the timeframe of the T-3 auction to promote investment.
Today, 9th February 2024, the SEM Committee is publishing an information note, summarising the key areas of discussion and points raised by participants during the feedback session. In this note, we also highlight the SEM Committee’s intention to increase the Auction Price Cap, by applying a higher multiplier to Net CONE, and our intention to consider allowing New Capacity, and possibly Existing Capacity, to take on larger capacity obligations (Reliability Option) by setting the Increase Tolerance (INCTOL) greater than zero.
We would welcome and encourage respondents to provide as much supporting analysis as possible to submissions on the financial incentives in the T-3 auction in response to the parameter consultation paper, which is also being published today.
The RAs will continue to liaise with the TSOs to finalise the timetables for the T-3 2027/28 and T-4 2028/29 auctions.