• The Modo Energy Terminal

    One platform to understand, value and benchmark energy asset globally.

  • Modo Energy Media

    Global news and insights on power markets, BESS, renewables and data centres.

Log inSign up
ENERGY STORAGESOLARCO-LOCATIONCOMMERCIAL & INDUSTRIALDATA CENTRESWIND

Research

December 2025: Capacity and Regulation markets drive PJM battery opportunity
Revenue Benchmark

27 Jan 2026

In December 2025, PJM batteries had the potential to earn up to $28/kW-month. Higher fuel costs, still-elevated Regulation prices, and record capacity clearing prices drove opportunity.
November 2025: Volatility, fuel prices, and Regulation lift PJM battery revenues
Revenue Benchmark

16 Dec 2025

Modo Energy’s first PJM battery benchmark report shows stronger revenue opportunities in November 2025 than last year. Read to learn how much operating batteries earned, where spreads widened, how batteries under development stack up, and what drove price volatility.
PJM’s Regulation redesign in October 2025 - a new playbook for batteries
Research and Analysis

07 Nov 2025

The first phase of PJM’s Regulation market overhaul went live in October 2025, bringing short-term upside as prices surged and volatility picked up - but long-term returns will depend on how quickly the market adapts.
PJM Q3 2025 BESS Livestream: Seven key insights
Research and Analysis

22 Oct 2025

Modo Energy’s 2025 Q3 PJM Livestream explored key trends in the battery energy storage market, covering buildout and revenue opportunities across capacity, energy, and ancillary markets. Read the key takeaways here.

More research

Modo Energy Logo
B certified logo
Better business act logo
One percent for the planet logo

Resources

  • All research
  • The Energy Academy
  • Transmission: The Podcast
  • Weekly Dispatch: Newsletter
  • Live Events
  • Careers
  • RSS

Legal

  • Website Terms of Service
  • Privacy Policy
  • Conflict of Interest Policy
  • Benchmark Complaints
  • Open Source Notice

Support

  • Help Centre
  • Schedule a call
  • Live chat
  • Status Page
  • Suggestions

Copyright© 2026 Modo Energy. All rights reserved