Limejump Dominates Managed Battery Storage Inclusion in Latest FFR Auction Results
Limejump celebrates these auction results as an impressive 104MW of managed battery is included
Auction results at a glance:
- 177 tenders were placed this month across 14 companies, bidding in 28 units;
- Limejump secured 73% of the total non-BM volume; the remaining 27% was awarded for April 18 one month contracts only;
- The longest durations were awarded to Limejump, including 24, 20, and 7-month contracts;
- In total, Limejump secured 104MW; 75MW Dynamic and 29MW Static.
The UK’s National Grid released the latest results from the exclusive FFR energy auction on 16th March 2018.
Topping the list, Limejump celebrated with 104MW of successful bids including 75MW into the National Grid through Dynamic Response and 29MW as Static. These bids were allocated for 24, 20 and 7-month contracts, the longest in duration provided in the auction. In comparison, the remaining dynamic bids were allocated one-month contracts for April 2018 only.
These results pave the way for many storage sites that would not normally have an accessible route to this potentially lucrative frequency market.
In fact, this represents 73% of the total non-BM volume in the entire dynamic auction.
This inclusion provides recognition of the role dynamic battery storage plays in balancing the UK energy system and is another vindication for the importance of renewable resources in this evolving energy landscape.
Head of Trading, Rob Sherwood explained the result as
“We feel that National Grid will continue to favour procuring the majority of FFR volume in the front month(s), this is primarily because the majority of FFR volume has already been procured out until April 2019. This tender round shows that National Grid still has an appetite to accept long-term tenders, albeit mainly for overnight periods. The market is now shifting to a new normal of FFR prices between £5-£16/MW as the remaining periods of availability (overnights and high-only) are also the cheapest to procure in the MFR market, this was proven by the few tenders that were rejected for prices being too high.”
Mark Simon from Eelpower, one of Limejump’s customers benefitting from the successful results, said: “We have seen a clear strategy from the National Grid since last summer, of only securing volume for the upcoming month, and I am delighted with the long-term contract result that has been secured in this March auction. It provides Eelpower with the ability to plan and manage our deployment with our additional partner Anesco’s help and focus on asset value maximisation.”
The selected batteries will be remotely managed utilising Limejump’s Virtual Power Plant connectivity, a connective system of energy generation, battery storage, bespoke analytical systems and highly intuitive market trading abilities. The assets will be called as demand requires, to balance frequency and ensure fluid energy supply across the United Kingdom, as seen recently during the cold snap conditions experienced in the #BeastfromtheEast.