SHARE
+44 (0) 1865 952 700 | contact@auroraer.com
Press enquiries
  • This field is for validation purposes and should be left unchanged.

Insight

Home/GB Balancing Mechanism Summary – February 2019

GB Balancing Mechanism Summary – February 2019

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 February report are:

  1. The average short and long system prices for February both decreased 17% relative to January, to £70.23/MWh and £36.99/MWh respectively, tracking the drop in wholesale prices as the weather grew warmer and gas costs fell.
  2. Volatility in the system price was reduced, with minimum long prices at £0/MWh on the 4th, 5th, and 25th of February. This is the first month since Nov-17 that the lowest monthly system price has been non-negative.
  3. CCGTs provided a higher proportion of bid-offer acceptances, at 56% and 87% for bids and offers respectively, compared to 41% and 66% in January. This compensated for reduced coal participation.
  4. Monthly profit for gas recips decreased 61% to £961/MW. Lower gas costs were outweighed by reduced wholesale and system prices, and trading hours dropped 46% to 56.5 hours.

Not a subscriber? Don’t hesitate to get in touch.

View Report

Our subscription services

Our subscription service provides you with long-term market forecasts, strategic insight reports, interactive client forums and access to our market data and analytics platform.

Interested? Please sign up to receive our complimentary monthly summary reports via email. Simply tick which reports you would like to receive. Please indicate your consent in the box provided and view our privacy policy.

If you would like further information on a particular subscription service or report please enter further information in the box provided.

 

 

  • Please find our privacy policy here

  • Aurora’s latest Distributed and Flexible Energy Scenarios Report for H1 2018 presents Aurora’s central outlook for distributed and flexible energy alongside a number of plausible alternative scenarios – each of which provides an internally consistent view on market developments, deployment, and investment cases. This update also includes the addition of a new ‘High Interconnector’ scenario.

    Read More
  • Aurora’s System performance report provides a monthly snapshot of key operating characteristics for the GB power system. Which fuels are most used? Which power plants most profitable? How would a change in the price of gas or coal impact the system price through the dispatch?

    Read More
  • Aurora’s Wind farm performance summary provides a monthly snapshot of financial and operating performance for individual wind farms on the GB electricity grid. We collate, clean, and process the data

    Read More