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GB monthly FFR market summary – July 2020

Wind turbines - Aurora Energy Research

Highlights of our July report include:

  • In the July tender for delivery in August, there were 72 dynamic bids accepted, with a volume-weighted average price of £6.59/MW/h, down 5% from the previous month
  • While volume-weighted average prices are showing only a gradual month-on-month decline, maximum accepted prices have dropped significantly over the past six tenders, from £13/MW/h in the February tender for March delivery to £7.56/MW/h in the July tender for August delivery, resulting in a very small spread of accepted prices. This has reduced value attainable through the monthly tender for the smaller units at the top of the stack. Drivers include new entries (e.g. the Arlington Greenfield Road battery) and the participation of Arenko’s Bloxwich battery in the latest tender, following declines in value from the balancing mechanism over the past couple of months
  • Zenobe secured the two highest value contracts at £7.56/MW/h and £7.55/MW/h on two of their 10 MW units, for the 3pm – 11pm EFA blocks
  • Arenko’s Bloxwich battery was accepted for the 7am-3pm and 3pm-11pm EFA blocks for £6.67/MW/h and £7.42/MW/h respectively for 36 MW of capacity. Habitat had 10 bids accepted across 4 units at a volume-weighted average price of £6.54/MW/h. Statera secured contracts covering all EFA blocks for its Pelham and Creyke Beck sites at average prices of £6.55/MW/h
  • A total of 30 static bids were accepted for delivery in August, with a volume-weighted average price of £2.32/MW/h, a 4.0% increase on the July average

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