CREG validates Elia's Y-1 capacity auction results for Belgium's 2027-2028 CRM delivery period

On 28 October 2026, CREG adopted Decision (B)3310 validating the results of the Y-1 (one-year-ahead) capacity remuneration mechanism auction organized by Elia Transmission Belgium for the 2027-2028 delivery period. The validation followed an independent audit report by CEPA (Capacity Market Auditor) and CREG's own independent reproduction of the demand curve correction and capacity selection process, finding no irregularities that would invalidate the auction results.

This decision finalizes the capacity volumes and clearing outcome for Belgium's third and final auction round (Y-1) for the 2027-2028 delivery period, confirming regulatory compliance with the legal and operational rules governing the CRM. It provides certainty to capacity holders on their contracted obligations and remuneration, and to the market on security-of-supply adequacy for winter 2027-2028, while illustrating CREG's oversight methodology (independent demand-curve reproduction) that is applied uniformly across Y-4, Y-2 and Y-1 auction cycles.

This is a procedurally important but narrowly scoped regulatory validation decision within Belgium's established CRM auction architecture. The substantive design parameters (demand curve, correction factors, eligibility rules) were already fixed by the Ministerial Order of 27 March 2026 and the CRM Règles de fonctionnement of 12 May 2026; this decision confirms compliance rather than introducing new design elements. Noteworthy from a market design perspective is the scale of demand curve correction (net reduction of ~3,216 MW from an initial curve of ~3,245 MW after accounting for opt-outs, DSR/diesel caps, and non-eligible capacity), which effectively collapsed the volume to be auctioned in this Y-1 round to near zero - reflecting that most capacity needs for 2027-2028 were already contracted in the earlier Y-4 and Y-2 auctions. This pattern of Y-1 serving as a residual auction with minimal incremental volume is a structural feature worth tracking across delivery periods. The decision also confirms CREG's practice of bypassing public/non-public consultation for auction validation decisions due to statutory time constraints (5-10 business days post-audit) and confidentiality requirements prior to public results publication.

Loi électricité du 29 avril 1999, article 7undecies §§10, 12, 13; Arrêté royal du 30 mai 2021 on CRM control modalities; CRM Règles de fonctionnement approved 12 May 2026 (Royal Decree of 5 August 2026); Arrêté ministériel du 27 mars 2026

Publication of Y-1 2027-2028 auction results by Elia · 31 Oct 2026

Primary sources