Modo Energy's monthly Revenue Benchmark has found that battery energy storage revenues increased by 53% between June and July.
According to the energy utility company, a significant contribution to this increase were Dynamic Containment revenues which were 80% higher in July than in June and contributed 66% of the technologies 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.
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.