According to Modo Energy’s monthly Revenue Benchmark, battery energy storage revenues surged by 53% between the months of June and July.
The energy utility company, attributed a significant revenue contribution (66%) to Dynamic Containment which had revenues that were 80% higher in July than in June.
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 article first appeared on Current± sister site Solar Power Portal.
