Access to energy market data is useful for any business that’s looking to understand its future. But for the teams focussed on investing in energy assets, from battery energy storage and solar, to significant demand sources like compute, energy market data is essential.
So, as part of our mission to enable the teams looking at battery energy storage to make decisions with ease, and on the back of our users’ requests, we’ve made some upgrades and additions to the Modo Energy API.
California ISO (CAISO)
According to Reuters, as of April 2024, over 55% of the United State’s energy storage capacity is in California. And the rate of installation continues to increase, with an estimated 30% annual growth on top of the 7 Gigawatts installed today (Wood Mackenzie).
And so if you’re not looking at California, you should be.
Understanding how assets operate in these markets is key to understanding how future assets operate in future markets. Getting to this point is impossible without access to the right energy market data. And so we’re bringing all of the key data from CAISO into the Modo Energy API, for free.
Here’s a list of all of the data included for now:
- Ancillary services prices cleared in different CAISO regions through the Day-Ahead Market.
- Locational Marginal Prices for each Node in the Day-Ahead Integrated Forward Market for Energy.
- Locational Marginal Prices for each Node in the Day-Ahead Integrated Forward Market for Residual Unit Commitment.
- The ancillary services prices cleared in different CAISO regions through the Fifteen Minute Market (FMM).
- Locational Marginal Prices in the Real-Time Market for the Real-Time Pre-Dispatch (Fifteen Minute Market, FMM).
- Locational Marginal Prices in the Real-Time Market for Real-Time Dispatch (5 minute market).
- Information about grid-scale batteries in the CAISO markets, including the total volumes of battery energy dispatched in each market, total state of charge of the batteries in each market, and ancillary service awards for both standalone and co-located batteries.
Intraday power prices and volumes for Great Britain: the full order book
In Great Britain, to really understand how battery energy storage can make money, you need to understand the Intraday market. (If you’re new to energy market data or need a reminder, then this video is a great explainer.)
Access to real-time Intraday prices and volumes from Epex isn’t easy. But our team have now done the hard work so you don’t need to.
Energy market data with clean time stamps
Sourcing data from across the world is difficult for loads of reasons, but time zones make everything worse. Without correct time stamping you could spend half of your day trying to work out why prices are spiking in the middle of the day and at the middle of the night.
And so we’ve gone through all of our data from CAISO and ERCOT to clean up how we manage time stamps.
P.S. If you’ve not used the Modo Energy API before, here’s a quick intro to help you get started: