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Home/GB Wholesale Market Summary – July 2019

GB Wholesale Market Summary – July 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 July 2019 report include:

  1. Higher demand and fuel prices led to a slight respite in wholesale prices, with July’s average wholesale price rising to £40.7/MWh, or £1.3/MWh higher than June. This is, however, 28% lower than in July 2018.
  2. Coupled with a rise in monthly demand of 4.7% (or 0.9 TWh) relative to June, lower wind generation resulted in thermal production increasing by 1.1 TWh. Consequently, monthly carbon emissions rose 13%.
  3. Despite higher wholesale prices, total monthly gross profits decreased by £183m compared to June, due to higher fuel prices and looser capacity margins which reduced scarcity pricing.
  4. Gross profits for wind assets fell by 24% relative to June, as the dip in load factors of 6.5 percentage point outweighed the rise in capture prices of £2.5/MWh.

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