We are pleased to present Aurora’s GB renewables market summary report.
Highlights from August include:
- As a result of average gas prices rising by 54%, the average baseload price increased to £35.3/MWh, equivalent to a £7.4/MWh (27%) rise from July’s average
- August was the first month to have zero settlement periods with negative prices in the intraday market since July 2019, and in the day ahead market since March 2020
- Relative to July, load factors for solar PV and onshore wind decreased by 2 p.p. to 13% and 21%, respectively. However, capture prices increased to £36.2/MWh for solar PV and £33.6/MWh for onshore wind, equivalent to a £7.8/MWh (27%) and £7.9/MWh (31%) growth since July.
- Offshore wind experienced an increase in load factor by 2 p.p., to 36%, and a rise in capture prices by £8.9/MWh (36%) since July
- Onshore wind’s accepted bid volumes in the balancing market decreased to 66.0GWh, a drop of 124.2GWh, or 65%, since July. As a result, onshore wind’s accepted bid cashflow decreased to £4.5 million in August – a drop of £9.1 million, or 67%, compared to July
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