Total BESS revenue potential fell to $51/kW-month in March, down from $56 in February as RT arbitrage spreads narrowed

Estimated monthly revenue potential for a 1 MW, 4-hour BESS in PJM ($/kW-month)
Source: Modo Energy, PJM BRA, FERC EQR • Get the data behind this chart
Notes: Arbitrage revenues proxied using March 2026 PJM-RTO monthly average Real-Time TB4 value. Capacity value based on the PJM RTO clearing price in the 2025/26 BRA. Capacity revenue = ELCC x cleared capacity price for a 1 MW, 4-hour BESS. Regulation revenues are likely underestimated as they are based on average realized revenues across operating BESS from Oct-Dec 2025, when Regulation had a lower clearing price.
MODOENERGY