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Home/GB FFR Market Summary – October 2018

GB FFR Market Summary – October 2018

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 October report include:

  • Twelve dynamic bids were accepted in October, bringing the volume-weighted average price of accepted bids up to £12.2/MW/h, the highest price since October 2017.
  • Pumped storage secured its first new FFR contract since September 2017. Dinorwig was accepted for a 1 month, 4-hour daytime contract at £17.65/MW/h for 170 MW capacity.
  • The total duration weighted dynamic volume procured for November is higher than October at 443 MW, but total volume remains low since July compared to an average of 697 MW for the first 6 months in 2018.
  • The volume-weighted average price of accepted bids in the static market is at an 17-month low of £1.2/MW/h, with 4 accepted bids this October.
  • Diesel procurement in the static market decreased from 152 MW duration weighted volume to 62 MW, out of a total of 146 MW duration weighted capacity, the lowest total in the past 11 months.
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