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Home/GB Balancing Mechanism Summary – May 2018

GB Balancing Mechanism Summary – May 2018

Aurora’s Flexibility Market Summary provide a concise monthly review of recent events in key markets for flexible technologies. The initial focus is on the balancing mechanism and firm frequency response (FFR) markets with more ancillary services markets to be added over time.

Highlights of the May report include:

  1. The average short system price for May fell to £70.46/MWh, while the average long price rose to £36.63/MWh.
  2. There were six instances of negative system prices in May, all within the first week, with the lowest price -£71.33/MWh.
  3. Total accepted bid and offer volumes are almost equal this month at around 520GWh, the lowest volume of accepted bids since September.
  4. With high carbon costs raising marginal costs to an average of £72.57/MWh, gas recips see their lowest profits since 2015.
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