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Stacking revenues in Italy: key takeaways from Solarplaza session
September 1, 2026 Clean Horizon delivers the latest snapshot of BESS performance across Europe – clear, concise, and focused on the trends that matter most to developers, investors, and policymakers.
Below is our latest snapshot of regional insights:
In July, revenues fell to €259k/MW/year for a 4-hour battery configuration, a 23.8% drop from the previous month.
This decline was driven by a general decrease in energy market prices, with aFRR energy, imbalance, and day-ahead prices all down around 30%.
For the month of July, the prices on ancillary services has dropped in the DK1 zone. Those results are coming from a recent cannibalisation and a reduction of the volume for those market. However, the volatility on the intraday market was better due PV production. At then end, the results are stable compared to June.
The volatility on the intraday market has increased in the DK2 zone because of the solar production. The activation of the FFR market was also important, resulting in positive revenue for BESS assets compared to June.
In July, revenues decreased sharply to €175k/MW/year, representing a 46% decrease for the 2-hour index compared to June.
This decline in revenues was driven by a general decrease in both Day-Ahead volatility and ancillary services prices: average aFRR capacity prices fell by 47%, while mFRR capacity prices fell by 65%.
In July, Finnish revenues for BESS of all duration dropped, following the decrease in volatility on the day-ahead market. Although spreads remained at high levels on aFRR and mFRR energy activation markets, activated volumes remained low, thus not compensating the wholesale market opportunity losses. On the capacity markets side, FFR was activated at high prices.
Revenues for July increased by 44.9% compared with the previous month, reaching 410 k€/MW/year, mainly driven by the strong increase in aFRR capacity prices (+64.8%) and higher DA energy spreads (+15.6%).
In July, the volatility on the day-ahead market has decreased, with 1-hour spread decreased by 23%. Additionnaly, aFRR UP mean reservation prices have also decreased from 15 to 10 EUR/MW/h. The two combined effects have led to a decrease in revenue between 10 and 16% for all BESS sizes.
BESS revenues in SUD zone for July 2026 set at 450 k€/MW/y with a tremendous share of day-ahead and intraday revenues.
In the NORD zone, average 4-hour BESS revenues reach 165 k€/MW/y mainly thanks to the MB.
In July, revenues decreased sharply to 338k€/MW/year, representing a 24% decrease for the 2-hour index compared to June.
This decline in revenues was driven by a general decrease in both Day-Aheadvolatility and ancillary services prices: average aFRR capacity prices fell by 12%, while mFRR capacity prices fell by 32%.
In July, revenues decreased sharply to 302k€/MW/year, representing a 30% decrease for the 2-hour index compared to June.
This decline in revenues was driven by a general decrease in both Day-Ahead volatility and ancillary services prices: average aFRR capacity prices fell by 10%, while mFRR capacity prices fell by 32%.
Gross revenues for the 2-hour index climbed 10% month-on-month to €581 800/MW/y. Intraday did the heavy lifting: available ID revenues jumped 75%, more than making up for softer day-ahead and capacity income. DA took a hit from a 20% drop in the average spread, down to €180/MWh. On the capacity side (aFRR, mFRR), prices for upward capacity came down, with lower contracted mFRR volumes adding to the drag.
Revenues for July increased by around 50% for a 2-hour and 4-hour BESS in Portugal compared to June. This is explained by a significant increase in wholesale power price volatility in Portugal and Spain. The accessible spread on the DA market increased by 13% to reach 145€/MWh and the Intraday Continuous revenues rose by 68% compared to June 2026.
In July the revenues decreased by 10%-15% on average for the 2-hour BESS and the 4-hour BESS reaching 404 k€/MW/year for the 4-hour battery. This can be explained by a decrease of 30% of the Day-Ahead daily spread.
Revenues for July increased by 90% for a 2-hour and 4-hour BESS compared to June. This high increase in revenues is driven by a significant increase in Day Ahead and Intraday Continuous revenues in July 2026. The accessible spreads on the mFRR energy market also increased.
In July, the revenues decreased by 20% for a 2-hour battery reaching 126 k€/MW/year. This can be explained by a decrease of 30% of the FCR capacity and the mFRR capacity prices.
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