Executive Summary
- Battery energy storage revenues in Great Britain reached £88k/MW/year in January 2025, marking a 5% increase from December 2024 and the first back-to-back monthly revenue increase since early 2024.
- Wholesale trading revenues surged by £11.6k/MW/year, driven by 42% higher wholesale price spreads, which hit a two-year high.
- Intraday power prices peaked at £1,780/MWh on January 8th, leading to the highest single-day battery revenues since 2022, with earnings of £394k/MW/year.
Subscribers to Modo Energy’s Research will also find out:
- How Reserve services revenues climbed to a new high, following December’s Quick Reserve launch.
- The impact of a National Energy System Operator (NESO) Capacity Market Notice on battery participation on January 8th.
- Why Balancing Mechanism revenues fell by £11k/MW/year, despite rising overall battery earnings.
To get full access to Modo Energy’s Research, book a call with a member of the team today.
Battery revenues increase in back-to-back months
The first quarter of 2024 saw battery revenues increase month on month from their January low to March. Throughout the rest of the year, battery revenues fluctuated as they followed wind generation - rising and falling each month. In December 2024, battery revenues increased 65% to £84k/MW/year.