The Energy Storage Report 2024

Now available to download, covering deployments, technology, policy and finance in the energy storage market

UK BESS revenues jump 53% in one month, Modo Energy says

By Lena Dias Martins
LinkedIn
Twitter
Reddit
Facebook
Email

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Graph & data: Modo Energy.

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.

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.

Read Next

April 22, 2024
Dutch developer Giga Storage has received a permit for construction for its 600MW/2,400MWh BESS project in neighbouring Belgium and will choose the BESS technology provider after summer.
April 11, 2024
Energy-Storage.news proudly presents our webinar with Clean Horizon on how energy storage systems can provide more value by going beyond ancillary services.
April 10, 2024
Commercial and industrial (C&I) BESS provider Tesvolt has launched construction of its latest 4GWh manufacturing plant in Germany.
Premium
April 9, 2024
A second life energy storage assembly plant has opened in Germany, amidst a rapid fall in battery prices which could threaten the economics of repurposing EV batteries into stationary units.
April 8, 2024
The noise of battery energy storage system (BESS) technology has “exploded” as a concern in the last six months, an executive from system integrator Wartsila ES&O said.

Most Popular

Email Newsletter