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Home/GB FFR Market Summary – April 2019

GB FFR Market Summary – April 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.

Highlights of the April 2019 report include:

  • Thirty-nine dynamic bids were accepted in April, bringing the volume-weighted average price of accepted bids up slightly to £3.97/MW/h.
  • As recent low price accepted bids start to outweigh the number of higher price bids accepted historically, volume weighted average prices including long-term procurements for May delivery decreased to £6.51/MW/h.
  • Arenko was accepted for its 1-month, 24-hour, 36 MW battery bid in the dynamic market at £5.67/MW/h, the first time it has been successful in the FFR market. Centrica also had bids accepted for its 45 MW Roosecote battery.
  • The total duration weighted dynamic volume procured for May remained similar as last month at 417 MW, with batteries (including battery, battery/DSR, battery-diesel hybrid and DSF: Storage) contributing 74% of the total duration weighted volume.
  • The volume-weighted average price of accepted bids in the static market increased 25% to £2.76/MW/h, the highest average price since Jan-18.
  • Six biofuel bids were accepted in the static market, totaling 80MW (74%) out of a total of 109MW duration weighted capacity procured in this tender month.

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