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GB monthly wholesale, balancing & asset value report – August 2020

We are pleased to present Aurora’s GB monthly wholesale, balancing and asset value report.

Highlights from August include:

  • Wholesale power prices continue to rise in August, with the monthly average at £35/MWh, a 27% increase from July, driven largely by significant increases in gas prices. Top and bottom prices increased similarly, leaving daily price spreads largely unchanged from June
  • Slightly reduced renewable output combined with the continued recovery in underlying demand resulted in increased thermal generation relative to July
  • Balancing action volumes saw the lowest monthly total since Nov 2019 as subdued renewable output and increasing demand resulted in fewer system constraints and stability issues
  • Both operational gas peakers and Aurora’s modelled asset saw increased balancing mechanism volumes and higher captured prices. The modelled asset saw 88 hours of balancing mechanism full output equivalent at average captured prices of around £60/MWh, mirrored by operational units being optimised by Statkraft, Smartest Energy and Centrica, among others
  • Arenko’s Bloxwich battery saw significantly decreased balancing mechanism volumes due to its FFR contracts between 7am – 11pm in August. Aurora’s modelled 2h battery saw profits reduce slightly as increases in the lowest prices slightly outweighed the increases in top prices, with captured spreads of £38/MWh

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