We are pleased to present our GB monthly FFR market summary for January.
Key highlights from the report include:
- In January, FFR tender prices continued its month-on-month increase by 9% to a volume weighted average of £12.1 /MW/h with 93 accepted dynamic bids. Of the 93 accepted bids, 33 were higher than £12 /MW/h due to tight winter peaks and high prices of £17 /MW/h observed in the Dynamic Containment service
- The procured volumes for January were similar to last month at 322 MW. Statera secured the largest share of total accepted volumes at 90 MW, while EDF and Centrica secured 47 MW of contracts. Centrica secured contracts for the first time this month since September 2020
- Statera has secured the highest accepted price at £17.95 /MW/h for its 40 MW storage bid for EFA blocks 5-6. In addition, 28 other bids were accepted at high prices between £12 /MW/h- £17 /MW/h for the same EFA blocks
- There were no static bids as National Grid reduced the static volume procurement requirements for the winter months
- In December, National Grid increased the maximum procurement volume to 200 MW for each EFA block for the Dynamic Low High (DLH) weekly auctions to procure more FFR volumes closer to real time. However, volumes in the DLH auctions for January delivery averaged around 89 MW across the six EFA blocks, much lower than the new volume cap. Prices remained constant compared to last auction averaging at £8.5 /MW/h across the six EFA blocks
- Procured volumes in the Low Frequency Static (LHS) auctions decreased by 15% compared to last month’s auction, averaging at 65 MW across the six EFA blocks. Prices, however, remained constant compared to last month
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