Executive Summary
- Battery energy storage revenues in Great Britain hit £76k/MW/year in December 2024, an 81% increase from November, marking the highest monthly earnings of the year.
- Wishaw was the highest-earning battery, reaching £122k/MW/year, followed by Coventry, both leveraging Balancing Mechanism and wholesale trading strategies.
- December 12th saw the highest single-day battery revenues in 2024, with Coventry earning over £1,000/MW by trading in the day-ahead market.
Subscribers to Modo Energy’s Research will also find out:
- How Balancing Mechanism dispatch surged to a record 83 GWh.
- Why Wishaw consistently earned high revenues, even on low-revenue days, due to its location in South Scotland and Balancing Mechanism strategy.
- How batteries in the south of Great Britain outperformed those in the north in the Balancing Mechanism, benefiting from regional price dynamics.
To get full access to Modo Energy’s Research, book a call with a member of the team today.
Battery energy storage systems earned £76/MW/year in December 2024
In December 2024, battery revenues in Great Britain reached their highest level of the year. Batteries earned £76k/MW/year from merchant markets, an 81% increase from November.
High wholesale prices and high price spreads drove the increased revenues. However, Balancing Mechanism activity was key to the highest-earning battery earning over £120k/MW/year.