Executive Summary

• In November 2024, battery energy storage systems in Great Britain earned an average revenue of £52k/MW/year, a 12% drop from October due to falling wholesale price spreads.
• Jamesfield 1 and 2 outperformed all other batteries, earning 60% more than any competitor by leveraging Dynamic Regulation High, the Balancing Mechanism, and wholesale trading.
• On November 6th, Jamesfield 2 imported energy at half the price of the wholesale market through Dynamic Regulation High - and sold at premium wholesale rates.

Subscribers to Modo Energy’s Research will also find out:

• Why Dynamic Regulation High contracts became more valuable than wholesale trading for energy imports in November.
• How North Scotland’s high wind generation impacted battery revenue opportunities.
• The role of Balancing Mechanism Bids in reversing wholesale positions, and how Jamesfield 1 and 2 avoided breaching Transmission Constraint License Conditions while optimizing revenue.

To get full access to Modo Energy’s Research, book a call with a member of the team today.

Introduction

In November 2024, battery energy storage systems in Great Britain earned an average revenue of £52k/MW (annualized). This was 12% lower than in October as wholesale price spreads fell 13%. Despite the lower wholesale spreads, Jamesfield 1 and 2 earned £134k/MW/year from wholesale markets, 60% more than any other battery.