We are pleased to present our GB monthly FFR market summary for May.
Key highlights from the report include:
- May Dynamic Containment (DC) procured volumes averaged at 623 MW per day, a 10% increase from April’s daily average, but still below National Grid’s May daily target of 1.1 GW. Due to this shortage in supply, accepted average prices continued to remain constant at £17/MW/h across May. During May, Statkraft began operating Statera’s Pelham 49.9 MW battery and Habitat began operating Arlington Energy’s 40 MW Greenfield Road project battery.
- May Dynamic FFR auctions saw an increase in accepted bid volumes to 115 MW, increasing from 88 MW in April (31%), with 78 bids submitted and 53 being accepted (68%). Accepted bid volumes are however still far below National Grid’s target of 450 MW. Volume-weighted accepted prices averaged at £10.8/MW/h, which is consistent with prices seen in April. Grid Beyond secured the largest share of volumes at 25 MW (22%) with Social Energy securing the highest accepted price of £12.4/MW/h during EFA block 3 with its 1 MW DSF onsite storage site.
- May static FFR auctions saw a 30% increase in accepted bid volumes (from 64 MW in April to 83 MW in May). Of the 31 bids submitted, 28 were accepted (90%) and volume-weighted accepted prices averaged at £2.9/MW/h. Peak Gen accounted for 31 MW (37%) of accepted volumes and secured the highest bid price at £3.99/MW/h for EFA blocks 3-4 with its 18 MW DSF distributed generation site for export.
- April weekly Dynamic Low High (DLH) auctions saw an average cleared volume of 178 MW across the six EFA blocks. This is more than double that was seen in March (averaging 57 MW) but is still below National Gird’s 200 MW minimum volume target. Prices increased from last month and averaged at £8.5/MW/h across the six EFA blocks, 20% high than average prices in March.
- April weekly Low Frequency Static (LFS) auctions saw an average cleared volume of 91 MW across the six EFA blocks, slightly lower than that seen in March (averaging 97 MW). Prices continue to remain constant to those seen since before May 2020 and averaged at £4/MW/h across the six EFA blocks.
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