04 Apr 2024
Tim Overton

Benchmarking batteries: Indices, Forecasts, Data & Charts, and Assets

In 2019 when Modo Energy was founded, most owners of battery energy storage in Great Britain only had one analyst (if they were lucky). That analyst was most likely already heavily resource constrained with internal reporting alongside managing a quickly evolving market and asset class. All of this meant that truly understanding your assets' revenue performance was a challenge.

This is the world in which we first created a Leaderboard.

But the world has progressed. Teams working on battery energy storage now have far more data available to them. Route-to-market providers, battery equipment manufacturers, and third party analytics tools like TWAICE and ACCURE provide users with more and more granularity and transparency on the performance of their assets.

Today we're making some changes to how users get around Modo Energy. These changes might seem small, but they are an external manifestation of the ongoing evolution of the Modo Energy platform…

The Leaderboard is dead. Long live Indices.

Modo Energy Battery Energy Storage System Indices

Benchmarking Pro users can find what was the Leaderboard now below the detailed view of each Index. Rather than existing primarily as a Leaderboard, it exists as a detailed view of the individual building blocks (the battery energy storage assets) that go into an Index. This move enables two key features that are coming soon:

Flexible date ranges

Soon users will be able to view both the Index and Index breakdown (Leaderboard) for any chosen date range.

Preparation for custom indices

Since the creation of the Leaderboard there has always been a question of fair comparisons. We believe that enabling informed comparisons is critical to the future of our benchmarking solution. One of the first big steps forward is enabling you to make the comparisons that you want to make.

Enabling users to create their own custom Indices. So if you want to view the aggregate performance of all of the assets in London, or the assets that have been operational for more than one year, or assets built by Tesla, you can.

Markets is now Dashboards, making space for Data & Charts.

We've pulled the key tools used for your own analysis into a single location.

The GB Battery Energy Storage System Indices in Plotter

Whether you'd rather jump straight to data tables and extract the data you need, or you'd rather spot the trend you're looking for on Plotter. You can now do it all in one place on Modo Energy.

Upgrades to Plotter

Our aim is for Plotter to be a powerful starting point for understanding the context around your battery energy storage asset. So we've made it easier to get the data you need:

You can now export data directly from Plotter

Downloading data from Plotter

We've removed any limits on visualising data

  • Unlimited saved Plots
  • Plot paid-for datasets, like the continuous intraday prices and volumes, for free

Plotter + Dashboards integration

To bring analysis into your teams' view you can now take charts from Plotter into Dashboards

  1. Save your chart
  2. Create a new dashboard
  3. Find your chart in “Saved charts”

Spotlighting battery energy storage assets

Our focus has always been on operational assets, and our Indices are fundamentally linked to these assets. With the upgrades to Indices and plans for future iteration on Assets we felt like it deserved its own home.

A view of any BMU - reminder for GB users

Since we pull all of the physical data on Balancing Mechanism Units (BMUs) from Elexon we are able to plot this data for any BMU, not just battery energy storage assets.

So if you want to see how combined cycle gas turbines (CCGTs) are being dispatched in the Balancing Mechanism, or how much individual wind farms are being bid down, you can simply search for a BMU Id and see all of the physical operations in one place.

View of the physical operation of a combined cycle gas turbine

A different experience when you land

When we opened up Modo Energy to the general public, the aim was to enable as many people as possible to get value out of Modo Energy. With as little friction as possible for users.

Based on feedback from users it's clear to us that we're not doing enough to explain and point people to where they can get value out of Modo Energy.

So anyone can still see the full platform without creating an account (we've not moved out sign-up wall) but we've improved on how we support onboarding users before they even create an account with better signposting and product explanations.

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