Battery storage software provider Arenko is expanding its services to allow intraday European Power Exchange (EPEX) trading.
Arenko’s platform was previously capable of trading in the Balancing Mechanism (BM), frequency response and other ancillary service markets.
This has now been widened to include the intraday EPEX power trading market, a move which Arenko CEO Rupert Newland said was the first of “several additional services modules” the company plans to deploy over the next year.
The platform – which is fully autonomous – is to “seamlessly” stack EPEX and BM revenue sources, with Arenko lauding this as a feature that will incrementally improve an asset’s trading performance.
The module was soft-launched using Arenko’s 41MW Bloxwich battery in April, which the company said proved its expectations about deploying the battery’s capacity across multiple markets simultaneously.
Arenko now intends to roll the module out to its customers with an aim of unlocking additional value. It pointed to performance boosts assets already on the platform have seen, stating that over the last 12 months those in the BM have made double the return of the nearest competitor batteries on a like for like basis.
“We will continue to innovate to help battery asset owners maximise their performance and increase their return on investment,” Newland added.
In May, Arenko unveiled a partnership with National Grid to provide upward and downward reserve flexibility using its Bloxwich battery in what it lauded as a “first of its kind trial”. As part of the trial, National Grid’s Control Room will signal Arenko, making them aware of the windows when the battery is needed, and Arenko will submit Bid Offer Acceptance (BOA) prices for those windows.
In April, Arenko helped to manage a 950MW spike in demand following the Clap for Carers. It mobilised its full storage portfolio, delivering 82MW using its platform.