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Home/GB Balancing Mechanism Summary – August 2018

GB Balancing Mechanism Summary – August 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.

Key highlights from the August report are:

  • The average short system price for August further rose to £78.68/MWh, while the average long system price rose to £42.81/MWh.
  • Low wind output on the 20th August caused the system to be short for most of the day, spiking to a peak of £180/MWh.
  • Both accepted bid and offer volumes dropped to their lowest in 13 months, at 341 MWh and 376 MWh respectively.
  • The sharp rise in fuel costs that exceeds the rise in power prices reduces both the profits and running hours for gas recips over the month.

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