In January, EDF was paid more in three days than in Q3 2020, as low winds and cold temperatures pushing National Grid ESO’s ability to balance the system. With demand high and generation low, in January 2021 the operator paid EDF nine times more than it did during the same month in 2020, with the average sales hitting £473/MWh compared to £53/MWh according to new analysis from Hartree Solutions. In particular, National Grid ESO procuring power from EDF’s West Burton B in the Balancing Market at the record breaking £4,000/MWh on Friday 8 January contributed to the companies significant takeaway. This was some 70 times greater than the average price paid over 2020. As such, West Burton B achieved the highest daily revenue from the Balancing Mechanism, receiving over £7.5 million in a single day, which contributed to it also achieving the highest monthly value across January as well. Although the EDF owned plant did not produce large volumes of power in January, its ability to react to demand meant that it made over £20 million. This was about 21% of National Grid ESO’s total spend of £100 million on securing margins.
Current 11th Feb 2021 read more »