Research

How higher gas prices boosted European BESS revenues in March

Market updates

8 min

How higher gas prices boosted European BESS revenues in March

Gas prices surged in early March on the back of the war in Iran. After a month of higher gas prices setting European peak power prices and widening spreads, it's time to take stock of how this impacted BESS revenues.

08 Apr 2026

Slow Reserve day one - gas dominance and pricing quirks

Market updates

5 min

Slow Reserve day one - gas dominance and pricing quirks

Great Britain's new Slow Reserve product cleared its first auction on 31 March 2026. Gas took 75% of the 1,800 MW requirement.

01 Apr 2026

Has Spain’s power system decoupled from natural gas?

Market updates

8 min

Has Spain’s power system decoupled from natural gas?

This article tackles the question if Spain has decoupled from natural gas. While CCGTs are increasingly absent from the day-ahead market, they re-enter the system through the technical restrictions market. The cost of this mechanism is passed through to consumers and rises in lockstep with TTF prices. For BESS investors, in these instances, the opportunity could lie in the technical restrictions market rather than the day-ahead.

27 Mar 2026

What higher European gas prices mean for BESS revenues and investments

Market updates

10 min

What higher European gas prices mean for BESS revenues and investments

Gas prices jumped 50% in two days. Battery revenues are up - but the investment case for new projects just got harder.

05 Mar 2026

More research

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).