Battery energy storage revenues rose by 12% in September - mostly due to increased wholesale trading spreads. However, some batteries were able to significantly outperform this increase.

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BESS won three of four contracts in GB's first reactive power tender. Germany and Spain are next

Three European markets are formalising reactive power procurement as synchronous generation retires. GB's LT2029 tender covers 1,450 MVAr across three named zones; Germany's TSOs project a 27,000 MVAr deficit by 2030. Spain, which had no reactive power market until 2025, is launching daily competitive auctions to replace a mandatory CCGT obligation that was costing consumers €176m a year.

Poland's BESS investment case is shifting from capacity-backed to merchant-led

Explainers

2 days ago

Poland's BESS investment case is shifting from capacity-backed to merchant-led

Poland's capacity market paid batteries generously for three years. That era is over. Yet the December 2025 auction still cleared 5.1 GW of new BESS, the largest year on record. The merchant revenue stack, built on day-ahead arbitrage and ancillary services, is strong enough on its own.

Trading caps: How to balance risk and return for BESS in the NEM

Research and Analysis

3 days ago

Trading caps: How to balance risk and return for BESS in the NEM

Selling 60–75% of a four-hour battery's capacity as caps has historically optimised the trade-off between return and revenue volatility across the NEM.

Energy Storage Summit Australia: New reality of investing in BESS in the NEM

Research Roundup

3 days ago

Energy Storage Summit Australia: New reality of investing in BESS in the NEM

Deployment of BESS in Australia’s NEM is now happening at speed. By 2028, there will be 14 GW of operational capacity, transforming market dynamics.

Modo Energy (Benchmarking) Ltd. is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority (Firm number 1042606) under Article 34 of the Regulation (EU) 2016/1011/EU) – Benchmarks Regulation (UK BMR).

Asset Spotlight: Larport Farm shows the value of revenue strategy agility

Asset Spotlight: Larport Farm shows the value of revenue strategy agility

BESS won three of four contracts in GB's first reactive power tender. Germany and Spain are next

Poland's BESS investment case is shifting from capacity-backed to merchant-led

Trading caps: How to balance risk and return for BESS in the NEM

​Energy Storage Summit Australia: New reality of investing in BESS in the NEM

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Energy Storage Summit Australia: New reality of investing in BESS in the NEM