France: Revenue levels have remained stable compared to the previous update, primarily due to unchanged reservation prices in the secondary reserve market (aFRR), which remains the dominant revenue stream for Battery Energy Storage Systems (BESS) in the country.
Germany: While day-ahead spreads and FCR reservation prices have seen a slight decline, overall market opportunities remain steady. Cross-market optimization has contributed to a minor increase in BESS revenues this month.
Spain: The inclusion of aFRR revenues in Spain’s revenue stack has significantly boosted storage asset earnings, particularly for 2-hour and 4-hour batteries.
Poland: A decrease in day-ahead market volatility has led to a drop in revenues following the recent balancing market reform. However, energy storage systems continue to demonstrate high revenue potential.
Sweden: The FCR-driven storage revenue surge is coming to an end. However, in the near term, aFRR and mFRR markets are expected to sustain momentum.
For further details, please feel free to contact our team.
Additionally, if you’re interested in a Premium Index – a customised version of the Storage Index designed to benchmark the financial performance of real assets – reach out to us directly.
Previous
March 17, 2025 
