National Grid’s first Dynamic Containment Auction a success
National Grid procured 90 MW of dynamic containment, the new premium frequency response product on Thursday in the first ever auction of this type. The product is faster acting than Firm Frequency Response, with DC output delivered in 0.5 seconds compared with 2 seconds.
- 165 MW of assets bid by operators into the day ahead auction
- 26 MW withdrawn
- 49 MW rejected by National Grid on price grounds (with £24/MW/hr deemed too steep a price to pay)
National Grid aim to procure 500 MW Low Frequency response from the auction to begin with. They have plans to increase that to 1000 MW Low and High in the future. This is something Limejump is actively exploring as it represents an exciting new service for battery owners.
Week ahead fundamentals
Nuclear availability increases by 300 MW for next week, we are seeing demand dip and renewables forecast lower. The net result is we expect the system to be more comfortable than last week. Closer to delivery interconnector flows and plant trips can dictate price action on the day hence why it is vital to have a 24/7 shift team to monitor market developments, which is exactly what Limejump brings to the table.