Power - Aurora Energy Research

We are pleased to present our latest GB wholesale power market summary. Our GB power market report provides a monthly summary of key characteristics in the wholesale market, ranging from overviews of fundamental system drivers to estimates of major company performance and snapshots of individual plant operation

Highlights from May include:

  • Driven by a continued decrease in fuel prices and demand, the monthly average price in May fell to a new decade-low of £21.9/MWh – a 5% (or £1.1/MWh) decrease from April and 46% decrease from May 2019
  • With power demand dipping to a decade-low of 16.7 TWh, low carbon generation fulfilled a record-high 74% of demand
  • Low demand and high renewables penetration resulted in a significant dip in thermal generation and GB going coal free for a full calendar month. Consequently, emissions fell by 16% (or 0.3 MtCO2) relative to April
  • With a 17% decrease in wind capture prices and a 2 p.p. decrease in wind load factors, wind assets saw an 11% dip in monthly gross revenues relative to April

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