Current Agile prices

michaels

There is remarkably little coverage in the main stream media of the gas crunch and now resultant leccy crunch.  I suspect 'they' are correct in this instance 'we can't handle the truth' right now.

JKenH

michaels said:

There is remarkably little coverage in the main stream media of the gas crunch and now resultant leccy crunch.  I suspect 'they' are correct in this instance 'we can't handle the truth' right now.

You might be right. There is no price information on the Electric Insights website after 18.27 and no demand and generation figures after around 19.00. Hopefully it will reappear tomorrow. 

Edit: it just so happens there is a planned outage this evening.

What is happening? There will be a period of planned downtime on the Balancing Mechanism Reporting Service (BMRS) from 19:00 (BST) to 00:00 (BST) on Thursday 9 September 2021. This is required for infrastructure maintenance.

https://www.elexonportal.co.uk/news/latest?cachebust=gmfg5xtzq3

QrizB

I guess it will take a day or two to filter through to the major news sites. Even Current Plus hasn't posted anything about energy prices since their article on the 6th and things have become more extreme since then.

JKenH

QrizB said:

I guess it will take a day or two to filter through to the major news sites. Even Current Plus hasn't posted anything about energy prices since their article on the 6th and things have become more extreme since then.

Filtering through now, the first article being from Current Plus

'Extreme pricing' raising winter concerns as GB imbalance price soars to £4,000/MWh

“The final issue is that it is not yet winter and whilst there should be more generation online in time for the colder weather, it has to be a concern that a warm September week could create such extreme pricing,” 

https://www.current-news.co.uk/news/extreme-pricing-raising-winter-concerns-as-gb-imbalance-price-soars-to-4-000-mwh

JKenH

Looks like the electricity market got the day ahead pricing seriously wrong for tonight. Octopus Agile outgoing for 8pm is over £2/kWh!

https://www.energy-stats.uk/octopus-agile-outgoing-export-east-midlands/

The wholesale price however looks as though it will come in around £0.15/kWh following a major mismatch between day ahead and spot prices.

https://electricinsights.co.uk/#/dashboard?start=2021-09-14&&_k=9zf6wu

Edit

Yesterday didn’t work out so well either as in the evening there was a sudden drop off in imports  which produced an unexpected spike in the price. I don’t know the background to that yet but if imports can drop suddenly by two thirds then this is a serious concern given our current dependence on them.

https://electricinsights.co.uk/#/dashboard?start=2021-09-13&&_k=b8da38

JKenH

Related to the last post above here is another headline from Current News about the state of the market this week with some explanation of what is happening.

Record-breaking day-ahead power prices shoot to £1,750/MWh

Volume weighted baseload prices also set new records at £461.17/MWh for EPEX and £379.82/MWh for Nordpool. The previous records were both set just last week, being £281.11/MWh for EPEX and £285.99/MWh for Nordpool.

These high prices are the result of some generators sitting out of the wholesale market to benefit from the higher prices in the Balancing Mechanism, Phil Hewitt, director at EnAppSys, said.

Interconnector capacity prices are also peaking at very high levels, with the day-ahead prices peaking at €1,664/MW/h (£1,421) on IFA for 17:00-18:00.

https://www.current-news.co.uk/news/record-breaking-day-ahead-power-prices-shoot-to-1-750-mwh

Was it a situation yesterday then of us declining to take power over the inter connectors because of prices rather than being cut off from it?

michaels

JKenH said:

Related to the last post above here is another headline from Current News about the state of the market this week with some explanation of what is happening.

Record-breaking day-ahead power prices shoot to £1,750/MWh

Volume weighted baseload prices also set new records at £461.17/MWh for EPEX and £379.82/MWh for Nordpool. The previous records were both set just last week, being £281.11/MWh for EPEX and £285.99/MWh for Nordpool.

These high prices are the result of some generators sitting out of the wholesale market to benefit from the higher prices in the Balancing Mechanism, Phil Hewitt, director at EnAppSys, said.

Interconnector capacity prices are also peaking at very high levels, with the day-ahead prices peaking at €1,664/MW/h (£1,421) on IFA for 17:00-18:00.

https://www.current-news.co.uk/news/record-breaking-day-ahead-power-prices-shoot-to-1-750-mwh

Was it a situation yesterday then of us declining to take power over the inter connectors because of prices rather than being cut off from it?

So are certain producers basically realising they are 'swing' producers (including the interconnector owners) because supply is tight and trying to game the market which works because demand is pretty inelastic especially as most users don't face the spot price?

QrizB

michaels said:

So are certain producers basically realising they are 'swing' producers (including the interconnector owners) because supply is tight and trying to game the market which works because demand is pretty inelastic especially as most users don't face the spot price?

That's unlikely.

JKenH

Outgoing £2.35/kWh at 7.30pm tonight. 

Meatballs

Eek a perfect storm for the grid:

https://www.current-news.co.uk/index.php/news/fire-blazing-at-ifa1-interconnector-leaves-gb-grid-facing-even-tighter-market-and-higher-prices