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Home/GB Monthly FFR Market Summary – August 2020

GB Monthly FFR Market Summary – August 2020

Highlights of the report include:

  • In the August tender for delivery in September, there were 96 dynamic bids accepted, with a volume-weighted average price of £6.03/MW/h, down 8% from the previous month, continuing the gradual downward trend seen in average prices over the past few months
  • KiWi Power secured the highest value contract at £6.95/MW/h on their 21 MW unit, for the 3pm – 11pm EFA blocks
  • Habitat Energy only gained contracts for one of their four units, with all EFA blocks contracted for 36 MW at average price of £6.0/MW/h. Statera’s Pelham facility gained contracts for 48 MW for all EFA blocks at average prices of £6.0/MW/h, Statkraft gained contracts for 47 MW for 7am – 11pm at average prices of £6.5/MW/h, and Centrica’s Roosecote facility secured a contract for 47 MW for 7am – 3pm, at £6.2/MW/h. Zenobe secured 14 contracts at average prices of £6.02/MW/h
  • A number of long term dynamic contracts see their final month in September, resulting in an increase of 94 MW in National Grid’s volume target for EFA blocks 3-6 for the next month ahead auction. After September delivery the only dynamic long term contracts that remain are 88 MW of primary, secondary and high in EFA blocks 1 and 2, which run from October to March 2021. In addition, National Grid have announced a ‘soft launch’ of the new Dynamic Containment service from October 2020, with up to 500 MW being procured for low frequency provision only. This is not expected to affect procurement targets for the monthly and weekly auctions initially
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