Platts proposes California, Texas hourly battery revenue indices

Platts, part of S&P Global Commodity Insights, proposes to launch new battery revenue indices for the California Independent System Operator (CAISO) and Electric Reliability Council of Texas (ERCOT), effective July 1, 2024.

These indices will provide transparency about the value of average battery output revenues in their respective regions, as battery storage capacity is increasingly growing with CAISO and ERCOT leading the way in installations in 2024, according to a report issued by Commodity Insights.

Platts will track revenues and costs in system operators throughout the day for hours 1-24 using battery storage charge and discharge output and hourly ISO prices. Additionally, Platts will calculate final net revenues for the day and publish a spread between positive values versus negative values.

Positive values represent profits gained from discharging batteries into the grid, and negative values represent losses or costs associated with charging energy from the grid. Final net revenues represent the difference between profits and costs.

The indices would be published in Megawatt Daily, Energy Trader, Platts Connect and Alert Pages.

Please address any questions or comments to powerpricing@spglobal.com and pricegroup@spglobal.com by June 7.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.