UK PPA auction clears 100 MW at GBP50-55/MWh power-only

London — Over 100 MW were sold in E-Power's UK Power Purchase Agreement auction this week with contract terms ranging from six to 14 months, E-Power commercial director Stuart Stephens told S&P Global Platts July 10.

For power-only PPAs, prices in the auction ranged from GBP50/MWh to GBP55/MWh ($63-$70/MWh).

For PPAs offering both power and one Renewable Obligation Certificate per MWh, prices ranged from around GBP100 to GBP105/MWh, Stephens said.

The auction saw some 46 PPA offers made by generators across wind, hydro, biomass, anaerobic digestion, energy-from-waste, solar PV and landfill gas technologies.

Each received an average of 25 bids per site during the online auction.

"The competitive nature of the auction was reflected in generators' benefitting from an uptick in wholesale power prices," Stephens said.

This was coupled with buyer appetite for Renewable Obligation Certificates for Compliance Period 19 (2020-2021), which formed part of the bid on most of the PPAs, Stephens said.