InterGen\'s UK $126 mn Spalding extension gas power plant starts operation

InterGen's UK $126 mn Spalding extension gas power plant starts operation

Construction of the 300 MW plant began in March 2018 and it has a 15-year capacity market agreementReuters  |  July 03, 2019, 16:43 IST
InterGen's UK $126 mn Spalding extension gas power plant starts operation LONDON: * InterGen's 100 million pounds ($126 million) Spalding extension gas power plant in the northeast of England has begun commercial operation, the company said on Tuesday.

* Construction of the 300 megawatt (MW) plant began in March 2018 and it has a 15-year capacity market agreement.

* It has been built next to InterGen's existing 880 MW Spalding gas-fired power plant.

* The capacity market - which pays power producers to be available during times of high demand - was suspended in November 2018 due a European Court ruling.

* An InterGen representative said the company was hopeful the capacity market would be reinstated as soon as possible.

* "If it is not reinstated, then we expect electricity prices to increase significantly in the short to medium term as existing power plants retire earlier than expected," InterGen said.

* InterGen is jointly owned by the Ontario Teachers' pension plan, China Huaneng Group and China's Guandong Yudean Group.