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 November report include:
- 73 dynamic bids were accepted in November for December delivery, bringing average prices down by 25% from the highs of the October tender to £10.61/MW/h, but still significantly higher than the average prices observed in 2019. The trend of high evening prices due to winter peak benefits and high procurement target looks set to continue for January and February delivery, as National Grid’s published future requirements remain high
- The highest accepted price in the November tender was £43.13/MW/h for Centrica. Contracts above £10/MW/h were awarded to Flexitricity, EDF, Limejump, BESS, Centrica, GridBeyond, Social Energy, UKPR and First Hydro
- Limejump was accepted for 19 contracts totalling 42.7 MW duration-weighted volume in the dynamic market, with average accepted prices at £12.57/MW/h and highest accepted price of £32.76/MW/h
- UKPR was awarded contracts for two out of its three recently-commissioned 20 MW units, with accepted bids at £7.74/MW/h for an overnight contract and £19.80/MW/h for a 3pm – 11pm contract. These are in addition to previous 6-month contracts awarded in December 2018
- No static volume was required by National Grid this month and so none was procured, as with the previous month
Not a subscriber? Get more information here.