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.
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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.
