Executive Summary:

• Monthly battery energy storage revenues in Great Britain decreased by 13% from January to February.
• However, Balancing Mechanism revenues for batteries reached their highest-ever level - hitting £27k/MW/year, on average.
• Wholesale revenues decreased by a massive £28k/MW/year, falling to their lowest levels since June 2023 - more than cancelling out the boost in Balancing Mechanism revenues.

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

• Why Balancing Mechanism revenues reached record highs - despite batteries providing less Offer volume than in December 2024.
• What caused the steep drop in wholesale trading revenues.
• Why frequency response prices increased in February 2025.

Revenues fall from a two-year high

In February 2025, monthly battery energy storage revenues in Great Britain fell to £77k/MW/year. This represents a 13% reduction from January, when batteries earned their highest monthly revenues since December 2022.

A steep reduction in wholesale trading revenues was the primary reason behind the lower revenues, but record Balancing Mechanism revenues partially offset this.