Our team has developed the first BESS Revenue Index for Greece to provide a solid assessment of the revenues of Battery Energy Storage Systems (BESS) in the Greek electricity market.

These revenues are indexed based on the results of a proprietary advanced optimization engine that co-optimizes dispatch across all available market segments, including the wholesale energy market (day-ahead and intraday), the balancing capacity market (FCR, aFRR and mFRR), and the balancing energy market (aFRR and mFRR).

Our methodology accounts for the clearing sequence of the examined markets as well as the time-coupling operating constraints of BESS. A price-taking behavior is assumed for the examined BESS, and the limited depth of intraday and balancing markets is taken into account. Furthermore, the methodology relies on a back-casting approach, in which we look at the recent past and optimally dispatch a BESS against the observed market conditions. In this context, a differentiating feature of our methodology lies in accounting for all short-term market uncertainties (market prices, balancing energy volumes) that a BESS operator would face during the bidding phase in a real trading environment, thus yielding realistic and not over-optimistic revenues.

Our index is published on a weekly basis and reflects the annualized gross revenues (in €/kW/year) that a BESS would earn if the current week's revenues were extrapolated to a full calendar year. The index is presented for different cases concerning:

considering the relevant developments in Greece.