Modo Energy is now authorised and regulated by the Financial Conduct Authority (FCA) to administer benchmarks. We have also adopted the International Organization of Securities Commissions (IOSCO) Principles for Financial Benchmarks, extending these governance standards globally.

Why regulated benchmarks matter

Benchmarks underpin efficient capital markets. The FTSE 100 gives investors a single, transparent measure of UK equity performance. The ICE Swap Rate prices trillions in interest rate derivatives. Successful indices are trusted by market participants.

The UK Benchmarks Regulation (BMR) requires strict standards for governance, methodology, transparency, and change management. Modo Energy now joins the ranks of respected companies such as LSEG, Bloomberg and MSCI in being regulated under the UK BMR.

For investors, this matters. Regulated benchmarks can be referenced in contracts, embedded in financial products, and used for capital allocation - with confidence in methodology integrity and governance. Regulated benchmarks enable efficient capital deployment into markets.

The energy industry's first regulated BESS benchmarks

​Our decision to seek registration with the FCA reflects a deliberate choice to reinforce the standards we operate to and the responsibilities we hold when customers rely on our data to deploy capital efficiently into energy assets.

​Modo Energy (Benchmarking) Limited is the first BESS revenue benchmark provider authorised by the FCA. The regulated benchmarks are the ME BESS GB Index Family, comprising of:

• ME BESS GB
• ME BESS GB (1H)
• ME BESS GB (2H)

​These indices represent the revenue performance of utility-scale battery storage in Great Britain.

Our IOSCO certification ensures these governance standards extend to our benchmarks internationally.

​Stay informed on updates to the ME BESS GB Index Family, including index publications, correction notices, and methodology or governance updates.

🔔 Subscribe here to ME BESS GB index notifications

What this means in practice

FCA authorisation places defined controls around how our benchmarks are produced, including:

• Controlled discretion: judgement calls are logged and reviewed quarterly by an independent oversight function.
• ​Conflict management: individuals involved in benchmark production cannot trade, bid, or hold interests that could compromise impartiality.
• Quality controls: documented procedures govern input validation, methodology application, and correction of historical data.

​Together, these controls mean customers can trust that our benchmarks are built, maintained, and published to the highest standards globally.

​Index Licensing

Our regulated indices enable new ways to measure performance and build accountability into commercial agreements. Customers are using the ME BESS GB indices to:

• Benchmark optimiser performance: verify your optimisation partner is extracting maximum value using an independent measure both parties trust.
• Embed into contracts: use our model Heads of Terms and Benchmarking Schedule to integrate performance standards into optimisation agreements.
• ​Support asset transactions: provide independent verification of historical performance during sales and acquisitions.
• ​Quantify lost revenue: measure revenue impact from unavailability to support recovery from insurers or counterparties.

​We support these use cases and many more through Enterprise Index Licensing. To learn more about our FCA-authorised benchmarks or our compliance framework, contact imrith@modoenergy.com.

​Modo Energy (Benchmarking) Ltd. is registered in England and Wales and is authorised and regulated by the Financial Conduct Authority (Firm number 1042606) under Article 34 of the Regulation (EU) 2016/1011/EU) – Benchmarks Regulation (UK BMR).