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    Auction

    The Capacity Market Auction is the competitive process to award Capacity Market Agreements to meet the target capacity for the relevant Delivery Year. Only Capacity Market Units (CMUs) which have successfully Prequalified and where necessary, confirmed entry, will be able to take part.

    Auction Guidelines​

    (Before the Auction)

    Published by the Delivery Body containing information on Auction timetables, Auction parameters, De-rating Factors, use of EMR Delivery Body portal and Auction I.T. system.

    Price Makers and Price Takers

    (During the Auction)

    The distinction between certain types of Capacity Market Units (CMUs) and the price they can bid.

    The Demand Curve

    (Shaping the Auction)

    The Auction volume and price parameters set by the Secretary of State.

    Duration Bid Amendments

    (During the Auction)

    Applicable to only T-4 Auctions and certain CMUs, this is the ability to change agreement length during the Auction.

    The Auction Format

    (Shaping the Auction)

    The key stages of a descending clock, pay-as-clear Auction including Auction Clearing Price.

    Auction Results

    (After the Auction)

    How and when the Auction results are published.

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