The second of this year’s capacity auctions completed on 28 October with £41.4m of capacity changing hands on 18 syndicates. There were £831m of would be subscription bids (offers to buy capacity) but just £49m of tenders (offers to sell). Prices generally were up, with the index of all capacity increasing to 42.6p, up almost 10% on the first auction. This index gives a better indication of overall price movements, as it is weighted according to the total capacity owned by third members rather than simply based on capacity traded in any one auction.

12 syndicates achieved higher average prices in auction two, but six fell in price. All but one of the syndicates eligible to trade did so, but volumes were sharply down on the first auction.

A complete list of auction prices and volumes is available here.

The third and final auction is held next week on Wednesday 3rd and Thursday 4th November