Executive Summary

• Battery revenues in Great Britain decreased by 20% from August to September 2024 - to £37.5k/MW/year - despite September 10th being the highest-earning day of the year.
• Wishaw outperformed peers - by maximizing Balancing Mechanism imports instead of relying on Dynamic Regulation High.
• Batteries cycled 15% less in September as lower wholesale spreads reduced the incentive to cycle frequently, weakening Dynamic Containment revenues.

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

• How Capenhurst 4 and Lascar Works outperformed the one-hour index by shifting from Dynamic Containment to Dynamic Moderation.
• Why Wishaw earned ten times more Bid revenue than any other battery.
• How NESO’s constraint management strategies influenced which batteries captured the highest system-flagged dispatch revenues.

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

Introduction

In September 2024, battery energy storage systems in Great Britain earned average revenues of £37.5k/MW (annualized). This was 20% lower than in August - despite September 10th being the single highest-earning day of 2024 so far for batteries. However, one battery bucked this trend and earned higher revenues in September than it did in August - by maximizing its Balancing Mechanism availability.