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GB monthly FFR market summary – April 2021

We are pleased to present our GB Monthly FFR Market Summary for April.

Key highlights from the report include:

  • Dynamic Containment (DC) auction prices averaged £17/MW/h across March. Procured volumes continued to steadily increase to a daily average of 496 MW (an increase of 28% from February), but are still below National Grid’s 800 MW target.
  • The DC March auction saw two new large participants from Statkraft (through Statera’s 49 MW Creyke Beck battery) and Centrica (through their 49 MW Roosecote battery), each accounting for 9% (46 MW) and 7% (33 MW) of average total daily accepted volumes across the March DC auction respectively.
  • April dynamic FFR tenders saw a volume-weighted average price of £11.0/MW/h across accepted bids, with prices ranging from £7.5 – £12.5/MW/h.
  • 51 (59%) of the 87 dynamic FFR bids submitted in April were accepted. The majority of the 36 (41%) rejected bids were due to being more expensive than alternative options and Statera’s 49.9 MW Pelham battery withdrawing from the auction.
  • Volumes procured in April increased to 88 MW, from 35 MW in March, but still fell below National Grid’s requirement of 450 MW as alternative DC services offer 500 MW of low turn-up.
    o LimeJump secured the highest accepted bid price at £12.5/MW/h during EFA blocks 3 – 4.
    o EDF secured the largest share of accepted duration-weighted volume at 28 MW, followed by Restore with 16 MW.
  • The month saw 22 static FFR bids accepted with a volume-weighted average price of £2.8/MW/h, increasing from £0.83/MW/h in March. Over 56% of the total duration weighted volume came from PeakGen’s demand-side flexibility (DSF) distributed generation for export which also achieved the highest accepted bid price at £3.99/MW/h.
  • FFR volumes in the weekly Dynamic Low High (DLH) auctions for March delivery averaged at 57 MW across the six EFA blocks, lower than National Grid’s 200 MW volume target. Prices decreased from last month and average at £7/MW/h across the six EFA blocks, 30% lower than average prices in March.
  • Procured volumes in the weekly Low Frequency Static (LHS) auction averaged at 97 MW across the six EFA blocks, increasing by 6% from last month’s auction. LHS prices continued to remain constant compared to the last 12 months.

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