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Home/GB FFR Market Summary – May 2019

GB FFR Market Summary – May 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 May 2019 report include:

  • 48 dynamic bids were accepted in May, bringing the volume-weighted average price of accepted bids up to £4.42/MW/h, a 43% rebound since dropping to £3.10/MW/h in February.
  • Limejump was accepted for 16 contracts totalling 39MW duration-weighted volume in both dynamic and static markets, with contracted prices peaking at £7.65/MW/h, the highest accepted in this tender round.
  • The total duration weighted dynamic volume procured for June remained similar as last month at 417 MW, with batteries (including battery, battery/DSR, battery-diesel hybrid and DSF: Storage) contributing 77% of the total duration weighted volume.
  • The volume-weighted average price of accepted bids in the static market continued to rise, increasing 15% from April to £3.17/MW/h, the highest average price since Dec-17.
  • Six biofuel bids were accepted in the static market, totalling 80MW (79%) out of a total of 101MW duration weighted capacity procured in this tender month.

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