Aurora’s System performance report provides a monthly snapshot of key operating characteristics for the GB power system. Which fuels are most used? Which power plants most profitable? How would a change in the price of gas or coal impact the system price through the dispatch?
Highlights of our February report include:
- In the last week of February the daily gas price more than doubled to £40/MWh due to supply concerns in the face of cold weather, exceeding the previous high in 2013 by over £5/MWh.
- Power prices rose dramatically on the back of the high gas prices, with the spot price reaching £194/MWh on the 28th February.
- Margins remained relaxed throughout the month compared to previous years, even during the bitterly cold weather at the end of the month – in part due to high wind output during this period.
- Cold weather and high gas prices created an opportunity for coal, which supplied 13% of the power mix in February, doubling its average load factor compared to January.
- The UK was a net exporter to France for the last couple of days of the month, as France experienced high demand due to the cold weather.