ERCOT July 2026 benchmark: spreads land 36% below last July despite heat; May revenues settle at $1.67/kW-month
ERCOT July 2026 benchmark: spreads land 36% below last July despite heat; May revenues settle at $1.67/kW-month
July brought limited volatility and battery revenue opportunity back to ERCOT. Day-Ahead TB1 spreads averaged $45/MWh, up 59% from June's floor of $28/MWh, though still 36% below July 2025. Real-Time TB1 spreads reached $40/MWh, down 46% year-over-year. Two hot days on July 21 and 22 drove most of the recovery since the previous month.
What did ERCOT batteries earn as July volatility stayed thin?
Modo Energy's Benchmarks measure realised BESS revenue in ERCOT and attribute it by service and strategy, from energy arbitrage to ancillary services.
Explore the ERCOT benchmark →May, the latest month with settled revenues, saw average battery revenues of $1.67/kW-month; down 46% from April's $3.10 and 64% below May 2025, when scarcity pricing lifted the fleet to $4.66/kW.
Have any questions or feedback? Contact the author at alejandro@modoenergy.com.
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