Aurora’s Flexibility Market Summary provides 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 September report are:
- The average long system price for September decreased 25.6% to £16.5/MWh, while the average short price also dropped 2.4% to £53.3/MWh, 51% and 24% lower than the 2019 average for long and short respectively.
- Two peak system prices of £100/MWh were seen on 5th and 30th September, the lowest peak price in any month since April. The lowest system price was -£66/MWh on 2nd September.
- The proportion of hours where the system was long was 54%, a 3p.p increase compared to August.
- Offer acceptance volume in September decreased by 6.9% to 909 MWh whilst bid acceptance volume rose 5.5% to 785 GWh. CCGTs contributed 86% and 59% of the total bid and offer volumes respectively.
- Monthly profits for gas recips under our simple trading algorithm increased 63.3% to £1349/MW. Trading hours and number of starts increased by 39.6% and 51.0% to 111 hours and 74 respectively.
Not a subscriber? Don’t hesitate to get in touch.