We are pleased to present our GB monthly FFR market summary for the October tender round.
Key highlights from the October report include:
- In this revamped FFR report, we include new analysis focused on the monthly tender of interest, highlights from the weekly auction trial, and remove slides from long term tenders as these have been discontinued by National Grid
- The October FFR tender for November saw average prices rise by £9.34/MW/h (or 37%) from September due to the launch of the Dynamic Containment product and more lucrative arbitrage opportunities in the wholesale and balancing markets as we approach winter
- Statkraft secured the maximum year-to-date price of £18/MW/h for its 40 MW bid for EFA blocks 5-6. Limejump and Social Energy also secured similarly lucrative prices in excess of £12/MW/h for the same delivery block
- EFA blocks 5-6 did see a significant decrease in volumes of 110 MW heading into winter as Statera and Habitat failed to secure contracts. Habitat submitted five 24h bids of between £13/MW/h and £26/MW/h that were all rejected. However, Habitat’s batteries were participating in the Dynamic Containment product’s soft launch in which their bids were accepted
- In the static market, average prices were £1.55/MW/h, a slight increase of £0.18/MW/h since September, with volumes awarded only to City Energy and Centrica. The accepted volumes have decreased to only 1 MW as opportunities in the wholesale and balancing markets improve due to the changing seasons
- In the weekly auctions for October delivery, 100 MW (the volume cap) of dynamic low high (DLH) was procured for EFA blocks 3-4 with the lowest volume procured during EFA block 2 at 92.5 MW. The average prices range from £6.2/MW/h overnight to £6.9/MW/h in the early evening
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