Day-Ahead (DA) spreads in ISONE recovered in October 2026 from September's 12-month low. The Internal Hub DA four-hour top-bottom (TB4) spread rose 45% to $119/MW-day, though it stayed 10% below October 2025.

Modo Energy's Boston virtual BESS (vBESS) benchmark could have earned $191/MW-day, up 22% from September. Energy revenue supported the whole gain, while reserve revenue slipped.

Year over year, revenue fell 22% from $246/MW-day, as DA reserve prices fell 35% to 45%. Imports from Québec and higher wind output replaced gas, and evening Real-Time (RT) prices fell 12%.

Key takeaways

• A battery in Boston could have earned $191/MW-day, up 22% from September and down 22% from October 2025. Energy revenue rose $42/MW-day and reserve revenue fell $7/MW-day.
• The Internal Hub DA TB4 spread rose 45% from September to $119/MW-day, and the benchmark's DA energy revenue rose $34/MW-day with it.
• RT spreads were wider than DA spreads on 20 of 31 days, but RT energy paid the benchmark $10/MW-day. It schedules against DA prices, so RT pays only on deviations.
• New England imported 1,029 MW on average, against a net export a year earlier. Imports and wind replaced gas over the evening peak, when RT prices fell 12%.
• DA reserve prices sat 35% to 45% below October 2025. Non-spinning reserve revenue fell $118/MW-day, more than the benchmark's whole year-over-year fall.

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What a battery in ISONE earned in October

A battery in Boston could have earned $191/MW-day in October, against $156/MW-day in September 2026 and $246/MW-day in October 2025. Maine earned $193/MW-day, within 1% of Boston.