Battery Energy Storage Systems (BESS) 

Batteries are poised to assume an increasingly pivotal role within the energy system. A growing number of developers express a keen interest in integrating battery storage systems into their ongoing projects. However, the future financial outlook is notably uncertain, leaving developers unsure about the precise utilisation of the batteries. To establish a robust revenue model, it becomes imperative to incorporate various revenue streams.

As the proportion of variable renewable sources in electricity systems continues to rise, the significance of battery systems is anticipated to expand. They are expected to contribute to frequency control, operational reserves, and wholesale arbitrage, thereby aiding in the reduction of grid integration costs. The potential earnings of batteries trading electricity on diverse markets increase with the volatility of electricity prices.

Batteries have diverse avenues for generating income, including engaging in frequency response contracts with the Transmission System Operator (TSO), offering grid services in alternative ways, or engaging in arbitrage by purchasing electricity at lower rates and selling it at higher prices in the liquid wholesale market. Due to their remarkable efficiency and high round-trip efficiency, batteries excel in spread trading and arbitrage trading compared to other storage types and, in many instances, other asset classes.

For companies that combine battery usage with other functions, such as storing power from their own solar panels or avoiding costly power connections, the investment carries less risk than those solely focused on arbitrage trading. The uncertainty lies in whether electricity prices will experience heightened fluctuations in the coming years or if peaks will plateau.

In an interactive workshop, Kasper will impart the latest insights and best practices on maximising economic benefits when engaging batteries in the electricity market.

This comprehensive 3-day course on BESS is designed to equip participants with a deep understanding of the evolving role of batteries in the energy landscape, particularly within electricity markets and trading. The learning objectives are structured across three days, covering various aspects related to BESS technologies, market dynamics, revenue streams, and optimisation strategies.

DAY 1: Understanding the Landscape

• Explore Power Grid Fluctuations, Renewable Energy Sources, and Demand Variations.
• Understand the role of frequency control in managing unforeseen events.
• Delve into essential BESS technologies, including Pumped Hydro, Batteries, Hydrogen, Thermal Energy Storage, and Mechanical Storage.
• Gain insights into the components, types, and operations of BESS, along with key performance metrics.
• Examine the value proposition of energy storage in avoiding capacity investments, providing reserves to Transmission System Operators (TSOs), and optimising energy usage.

DAY 2: Battery Features and Value Addition

• Evaluate crucial battery features such as Round-Trip Efficiency, Ramp Rates, Technical Lifetime, CAPEX, and OPEX.
• Understand how batteries can add value by bypassing grid congestion, saving grid fees, and minimising production losses.
• Explore different revenue streams, including energy, capacity, and ancillary services.
• Assess future market opportunities, storage durations, and technologies.
• Address risks and mitigation strategies, adopting a Real Options Approach.

Day 3: BESS Revenue Streams and Optimisation Strategies

• Investigate various BESS revenue streams, including wholesale markets, frequency response contracts with TSOs, and arbitrage.
• Explore how to make money with BESS through effective operating and optimising strategies.
• Discuss challenges related to required data, price forecasting, system modelling, and competition modelling.
• Focus on revenue optimisation through decision options, bidding strategies, and risk mitigation techniques.
• Engage in practical exercises and real-life case studies to understand successful revenue optimisation strategies for BESS.

This course offers a highly interactive workshop, providing participants with the latest insights and best practices to maximise economic benefits when participating with batteries in the electricity market.

This course is designed for professionals in the energy sector, including developers, grid operators, renewable energy enthusiasts, energy traders, policymakers, finance professionals, utility executives, researchers, consultants, and sustainability professionals. It provides a comprehensive understanding of Battery Energy Storage Systems (BESS) in the context of electricity markets and trading. Whether you're involved in project development, grid management, trading, policy-making, finance, or consulting, this course offers valuable insights into the integration and market dynamics of BESS.