Fulcrum Utility Services Ltd - EU ruling - British Capacity Market scheme

 

FULCRUM UTILITY SERVICES LIMITED

("Fulcrum" or the "Company")

Outcome of EU Commission ruling on the British Capacity Market scheme

The Board of Fulcrum Utility Services plc, the UK's market leading independent multi-utility infrastructure and services provider, note that, following an in-depth investigation, the European Commission has approved under EU State aid rules the British Capacity Market scheme ("the Scheme") introduced in 2014 to safeguard security of electricity supply. Notably, the Commission did not find any evidence that the Scheme would put demand response operators or any other capacity providers at a disadvantage with respect to their participation in the Scheme.

This ruling overturns the previous capacity market suspension by the EU in November 2018, which was delaying a significant number of customer investment decisions particularly in relation to Dunamis's high voltage design and build business, which was reported in the Company trading statement 28 March 2019.