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Home/GB Balancing Mechanism Summary – July 2018

GB Balancing Mechanism Summary – July 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 July report are:

  • The average short system price for July rose to £74.03/MWh, while the average long price rose to £42.19/MWh.
  • With unusually high wind output on the 28th July the system was long for most of the day and saw negative system prices in 11 half hours, dropping as low as -£70.44/MWh.
  • The average system premium (when short) and discount (when long) increased in July. Frequency was evenly split between positive and negative over the month.
  • Higher power prices relative to fuel costs lead to an increase in profits and running hours for gas recips.
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