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 June report include:
- Fifteen dynamic bids were accepted in June bringing the volume-weighted average price of accepted bids down to £5.5/MW/h
- Only 26MW of duration weighted dynamic response was procured this June for delivery in July
- In total, 610MW daytime and 495MW overnight duration weighted volumes of dynamic FFR have been procured for July, compared to the average of 882MW daytime and 663MW overnight procured over the last 6 months
- Eight dynamic bids from batteries totalling a duration weighted volume of 37MW were accepted to cover the period from Oct-19 to Mar-20 – due to the implementation of SNAPS changes, contracts can now be tendered for more than 6 months in advance
- This was the first month since January 2018 that Damhead Creek has been unsuccessful in the FFR auction
- The volume-weighted average price of accepted bids in the static market increased to £2.04/MW/h, with 41 accepted bids this June