July 2019 System Prices Analysis Report now live
We have published the latest electricity System Price Analysis Report (SPAR) for July, which shows that the highest System Price of the month occurred in the evening demand peak on the hottest day of the year to date.
System prices spike during the heat wave
Electricity system prices on 25 July (the second hottest day ever recorded in Britain) hit £120/MWh, the highest for the month.
However, during July there was a fall in the amount of times that System Prices were £100/MWh or more. During July this happened six times compared to 14 times in June.
The report also showed that in July, 83 per cent of System Prices were between £20/MWh and £60/MWh, regardless of whether the electricity system was ‘long’ (when there is too much electricity available) or ‘short’ (when National Grid ESO has to call for more generation to be available).
What does the System Price Analysis Report cover?
Each report gives an overview and analysis of the previous month’s prices and pricing parameters since the implementation of BSC Modification P305 ‘Electricity Balancing Significant Code Review developments’.
The changes for this have been implemented in two stages since 5 November 2015. P305 was implemented to progress the outcomes of the Electricity Balancing Significant Code Review (EBSCR).
The SPAR includes analysis on the different factors that impact Imbalance Prices, such as National Grid ESO’s use of Short Term Operating Reserve (STOR) providers.
- P305 ‘Electricity Balancing Significant Code Review developments’
- Electricity Balancing Significant Code Review (EBSCR)