With the 60-day lag in ERCOT’s market disclosure data, staying up to date with battery energy storage revenues can feel impossible. However, there are still ways to assess recent opportunities for batteries.
Across the two weeks from April 15th to 28th (inclusive), we’ve provisionally estimated battery revenues of $232/MW/day. (This is equivalent to around $85,000/MW annualized.)
But where have these estimated revenues come from?
Following evening Net Load ramps of more than 20 GW on April 16th and 28th, Real-Time bus average settlement prices peaked at over $2,000/MWh.
And, at these times, battery energy storage net output rose to meet demand - as well as on several other occasions across the fortnight.
Read more about the price spikes on April 16th and April 28th on Modo Energy’s LinkedIn page.
In terms of revenue opportunities, daily Real-Time price spreads across the week averaged $191/MWh. And, on April 28th, there were available spreads of more than $1,200/MWh in every major load zone.
During peak periods, Real-Time prices far exceeded Ancillary Service clearing prices.
And this helps to explain why such a large proportion of estimated revenues came from Energy arbitrage during these two weeks.
Note: Due to the 60-day lag in ERCOT publishing its market disclosure data, the revenue figures provided here are provisional estimates and subject to change. Readers are advised that these estimates should not be relied upon for making financial or investment decisions - as actual revenues may differ.
Want to keep track of battery energy storage revenues in ERCOT?
At Modo Energy, we provide insights on battery energy storage in ERCOT - so that you can make decisions faster and with confidence.
At a glance, you can use the ERCOT BESS Index to:
- track the performance of battery energy storage systems in the market,
- understand the different services contributing to revenues,
- and identify market trends and volatile periods.
Benchmark asset performance against the rest of the market. Understand the best operational monetization strategies. And help inform decision-making, with insights focused entirely on battery market operations.
Head here to find out more about how Modo’s benchmarking tools can supercharge your workflows.