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Capacity Market Code Modifications

Capacity Market Code Modifications. Working Group 8 29 August 2019. Modification Timetables. The RAs intend to publish a complete timetable for processing the modification following the completion of the Working Group.

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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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