Monthly Firm Frequency Response (FFR) is a pay-as-bid auction which is tendered before each month. Revenues are calculated using data published on the auction results by National Grid ESO.
To calculate the FFR revenues, we multiply the contracted volume (MW) by the accepted bid price (£/h) for each asset. The accepted price is calculated for each EFA block on each specific service day (Mon - Fri, Saturday, and Sunday/Bank Holidays) for each individual asset. The contracted volume is determined by using the maximum response (MW) detailed in the auction results for a given frequency deviation.
The FFR revenues in the Leaderboard do not account for any performance penalties which may be applied if assets breach market participation guidelines as we have no visibility using public data on instances where this occurs.
To learn about Frequency Response, check out our Energy Academy video here.