We know some of you don’t indulge in all of the juicy details and charts in the battery energy storage Week in Review article. So, as promised, here is your TL;DR version as a substitute for Matt’s video - for one week only!

Next week, we’ll be back and filming on location at Energy Storage Summit 2023, and we’re very excited. See you soon!

If you’re looking for all the details, head to the full article here.

Headlines only, please!

News from the markets that most impact battery energy storage revenues

• Demand was low, staying below 40 GW across the week. The wind was steady and interconnectors made up the difference when wind dropped off.
• This meant there were no extreme day-ahead spreads this week. The largest spread was just £69 /MWh and the average was £63 /MWh.
• In the Dynamic Containment Low service, prices failed to reach £5 /MWh on six days. This meant the average was low - just £3.36 /MWh, down 40% on last week.
• The price for Dynamic Regulation High was £0/MWh for every EFA block this week with the exception of EFA block 5 on Monday 13th February. The blip in the price for that single EFA block is likely to be linked to potential Triad avoidance.
• In our battery energy storage market benchmarks, Firm Frequency Response is back at the top for both 1-hour and 2-hour systems. This is thanks to the falling prices in the Dynamic Regulation service.

Next week

• It’s set to get windy again so the current minimum surplus forecast is looking very healthy at 5.4 GW.

In other news

• In a world-first, Capenhurst - the largest grid-connected battery in Great Britain - has become the first battery to deliver reactive power to the grid under a commercial contract.
• In April 2022, it was the winner of a special type of National Grid ESO contract called a ‘pathfinder’, which National Grid ESO uses for its innovative contracts.
• This is exciting because it’s a big step in achieving net zero operability of the grid as reactive power has previously been provided only by conventional power plants.
• If you aren’t familiar with reactive power, check out our explainer here.

Chart of the week

• And finally, our chart of the week is the huge increase in dispatches of battery energy storage in the Balancing Mechanism in January.
• Dispatches tripled compared to December and hit their highest levels since the launch of Dynamic Containment in October 2020.
• Hopefully, this is a sign of good things to come in the Balancing Mechanism.