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Home/GB FFR Market Summary – March 2019

GB FFR Market Summary – March 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 March 2019 report include:

  • Thirty-three dynamic bids were accepted in March, bringing the volume-weighted average price of accepted bids up slightly to £3.66/MW/h.
  • GridBeyond Limited was accepted for its 1-month, 24-hour DSF: Load Response contract in the dynamic market at £13.16/MW/h, the highest accepted price in March tender run.
  • The total duration weighted dynamic volume procured for April decreased 16% from last month to 415 MW, with batteries (including battery, battery/DSR, battery-diesel hybrid and DSF: Storage) contributing 78% of the total duration weighted volume.
  • As National Grid announced that its long-term procurement target has been met, March-19 is run as a month-ahead auction instead of the long term FFR tender run by NG’s standardisation of contract lengths.
  • The volume-weighted average price of accepted bids in the static market increased 18% to £2.2/MW/h, the highest average price since Mar-18.
  • Six biofuel bids were accepted in the static market, totalling 80MW (68%) out of a total of 118MW duration weighted capacity procured in this tender month.

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