CREG validates Belgium CRM Y-2 capacity auction results for 2028-2029 delivery period (Decision B3311)

On 28 October 2026 CREG adopted Decision (B)3311, validating the results of the Y-2 capacity auction organised by Elia for the 2028-2029 capacity delivery period. The validation was based on the independent auditor (CEPA) report finding no issues invalidating the auction, and on CREG's own independent reproduction of the demand curve adaptation process, which matched Elia's corrected curve exactly.

The decision confirms the Y-2 2028-2029 CRM auction was conducted lawfully, giving legal certainty to selected capacity holders and avoiding a costly re-auction. It also illustrates how CREG operationalises its oversight role under the Royal Decree of 30 May 2021, including independent replication of demand-curve corrections (opt-outs, eligibility reclassification, network-constraint checks) that materially affect which capacity clears and at what price.

This decision is a procedural checkpoint within Belgium's sequential (Y-4/Y-2/Y-1) capacity auction design rather than a design reform itself, but it reveals important design mechanics: (i) the demand curve is dynamically corrected post-bidding via multiple categorized adjustments (reduced Energy-Constrained derating, eligibility reclassifications, opt-out treatment, non-participation, rejected/archived capacity), moving the clearing curve substantially (e.g., point A volume fell from 3,308.54 MW to 1,309.78 MW after corrections); (ii) CREG bypasses its normal public/non-public consultation requirement for these validation decisions, citing the short 5/10-business-day statutory window after the auditor's report and the need to keep pre-publication results confidential - a transparency-versus-speed trade-off embedded in the CRM's institutional design; (iii) the independent auditor (CEPA) plus CREG's own parallel calculation function as a dual-check mechanism on auction integrity, which could become a template for validation processes in other adequacy mechanisms. The event sits in the DECISION stage of a recurring, rules-based validation process rather than being a one-off policy change.

Belgian Electricity Law of 29 April 1999 (article 7undecies, §§10, 12, 13); Royal Decree of 30 May 2021 on CRM control modalities (article 18 as legal basis); CREG Functioning Rules of the CRM (12 May 2026), approved by Royal Decree of 5 August 2026

Elia to publish the validated Y-2 2028-2029 auction results · 31 Oct 2026

Primary sources