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Home/GB Wholesale Market Summary – April 2019

GB Wholesale Market Summary – April 2019

Aurora’s GB wholesale market report provides a monthly summary of key characteristics in the wholesale market, ranging from overviews of fundamental system drivers to estimates of major company performance and snapshots of individual plant operation.

Highlights of the April 2019 report include:

  1. With a rise in carbon prices and thermal generation, the average monthly wholesale price in April rose to £43.2/MWh, a £0.8/MWh increase from the previous month.
  2. Despite milder weather reducing demand by 8.3% relative to March, lower gas prices and wind load factors resulted in CCGT production increasing by 1.1 TWh relative to March.
  3. Gross profits for wind assets fell by 30-35% compared to March, as the 13.5 p.p. fall in the average wind load factor more than offsets the £0.9/MWh increase in capture prices.
  4. Overall, total monthly gross profits fell by £151.2m relative to March, as thermal assets too suffered from lower inframarginal rents as the lower demand loosened capacity margins.

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