We are pleased to present our GB renewables market summary report for September 2020.
Highlights include:
- Gas prices increased by 47%, putting upwards pressure on average baseload prices as they increased to £43.1/MWh, equivalent to a £7.9/MWh, or 22%, rise from the average in August
- On September 15th, a combination of low wind generation and high demand led to intraday spot prices rising to over £500/MWh and National Grid issuing a Capacity Market Notice as the system looked to be short of capacity
- Load factors for onshore wind and offshore wind increased by 7 p.p. to 28% and 5 p.p. to 41%, respectively. In addition, onshore wind’s capture prices increased to £39.6/MWh, equivalent to a £6.0/MWh rise (18%) since August, and offshore wind’s capture prices grew to £37.9/MWh, equivalent to a £4.3/MWh (13%) increase. On the other hand, solar PV’s load factor decreased by 1 p.p. to 12%, relative to August, but capture prices increased to £42.9/MWh, equal to a rise of £6.7/MWh (19%) since August
- Increased onshore wind generation in August led to a rise in accepted bid volumes of onshore wind in the balancing market as 151.5GWh were accepted, more than double the volume in August (66.0TWh)
This is subscriber-only content. Not a subscriber yet? Find out more about our GB Renewables subscription.
