UK-based energy industry data platform company Modo Energy’s monthly Revenue Benchmark has found that battery energy storage revenues in the country increased by 53% between June and July.
A significant contribution to this increase came from the Dynamic Containment ancillary service, for which revenues were 80% higher in July than in June and contributed 66% of the technology’s total revenue that month.
These revenues were caused by increased Dynamic Containment Low volumes causing the highest average prices experienced since November.
Although the average requirement of the high-frequency service continues to increase steadily, the low-frequency service average jumped by 53% to 1,245MW between June and July, which Modo attributed to frequency oscillations in Scotland.
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This resulted in Dynamic Containment Low prices increasing by over 300% to £6.41/MWh in July (from £1.41/MWh in June).
Negative pricing in day ahead markets in July – for example the drop to -£54.17/MWh on Saturday 16 July – presented wholesale opportunities for batteries by allowing batteries to be paid to charge, continued Modo.
This story originally appeared on our UK sister sites, Solar Power Portal and Current.
