Executive Summary

• GB battery revenues in August 2024 reached £46k/MW/year, the highest since November 2023, driven by record Balancing Mechanism earnings.
• Minety Upper was the top-performing one-hour battery, earning 25% above the ME BESS GB Index.
• Balancing Mechanism reversals helped Southern England batteries earn higher revenues, while system-flagged Bids in North Scotland boosted wholesale earnings.

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

• Why high cycling rates and Balancing Mechanism dispatches were key to outperforming Dynamic Containment strategies.
• How Jamesfield 2 earned the highest wholesale revenue by strategically managing system-flagged Bid reversals.
• Why transmission constraints drove regional differences in battery revenue optimization.

To get full access to Modo Energy’s Research, book a call with a member of the team today.

Introduction

Battery energy storage revenues reached £46k/MW/Year in August. This was helped by record Balancing Mechanism revenue, and is the highest figure since November 2023. The highest-earning one-hour battery performed no frequency response services in August, the first time this has ever happened.