The Director General of Electricity Supply for Northern Ireland today announced the results of the 2003 NFF Auction. 30 capacity units of 1 MW each, were auctioned from the NIE Power Procurement Business stock of NFF capacity, contracted under Government obligation. At present 40MW of capacity is under contract, generating around 120 GWh each year.
1 and 3 year products were on offer, with a maximum of 10 capacity units available for 3 year contract duration.
The auction was oversubscribed and fully allocated, resulting in 30 capacity units being allocated for 2003/04 and 10 capacity units being allocated for 2004/05 and 2005/06, between the following successful bidders:
The reserve bid price was set at 3.8p/kWh (based on output from the capacity blocks).
The average price at which the auction cleared was 4.424 p/kWh.
The auction was operated on a pay-as-bid basis.