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GB monthly FFR market summary – September 2020

Renewables and battery storage - Aurora Energy Research

The September release of our monthly FFR report represents a significant update to previous iterations. Changes include a new explanatory introduction section, new analysis focused on the monthly tender of interest, and highlights from the weekly auction trial. In addition, due to over a year having passed since National Grid’s discontinuation of long term tenders and only a small amount of capacity on multiple month contracts remaining, slides focused on long term tenders from previous auctions have been removed.

Other highlights from our September report include:

  • The September monthly tender for October delivery saw average prices of £6.82/MW/h, an increase of 13% from the August tender. This reverses a slow decline in average prices seen since the January tender, and is due to a combination of the upcoming launch of the new Dynamic Containment product and the associated increase in overall response demand, as well as increasingly valuable opportunities in wholesale and balancing markets heading into winter
  • The maximum price of £15.33/MW/h was awarded to a PeakGen bid for 3 MW for EFA blocks 5-6, representing the highest price of an accepted bid since the January tender. In addition, Limejump and Flexitricity secured bids over £10/MW/h
  • Statera secured contracts for their Pelham and Creyke Beck batteries, with prices of £5.76/MW/h and £6.93/MW/h respectively. EDF had all its contracts accepted, providing 24h of availability payments for 61 MW of capacity at average prices of £6.86/MW/h, while Centrica secured 24h of contracts for its Roosecote battery at £6.48/MW/h
  • In the static market, average prices were £1.37/MW/h, a decline on recent months, with over half of the capacity awarded to PeakGen
  • In the weekly auctions for September delivery, 100 MW of dynamic low high (DLH) was procured across all EFA blocks, at average prices ranging from £3.79/MW/h overnight to £7.60/MW/h in the early evening. The weekly auctions have seen the entry of Tesla into the market, through the 7 MW FRV/Harmony Energy Holes Bay site in Dorset

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