BESS Price Methodology | Pexapark
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Benchmarks for Flexibility Purchase Agreements

  • Pexapark brings the first independent, market-based Flexibility Purchase Agreement (FPA) price benchmarks to Germany, Spain and France.

    Unlike forecasts which provide a modelled view of where revenues should be, our price benchmarks reflect where the market is pricing deals today.

    Clean energy buyers, sellers and investors use this daily price intelligence to value assets, benchmark deals or mark a BESS portfolio to market.

    Our methodology translates tolling, floor and TBx structures into comparable market benchmarks using:

    • Observable market data
    • Normalized contract assumptions
    • Quantitative modelling

    This page provides a high level overview of our unique BESS price methodology. For a more in-depth understanding, download the full methodology doc.

  • Download Methodology

    Learn about Pexapark's BESS Price Methodology

    Please enter your details to request Pexapark's BESS Methodology document.

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How Pexapark's BESS Price Benchmark's are Built

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Collect Observable Market Data

Each month we poll 50+ active market participants for bid/offer prices on tolls, floors and TBx.
We collect 500+ BESS price points from our polls, live RFQs and transacted prices captured by our BESS advisory team and other market evidence verified by our Price Reporters.

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Verify and Clean the Data

Pexapark commits voluntarily to the IOSCO Principles for Financial Benchmarks.
An independent editorial team verifies all received price polling data. Submissions that deviate by more than 2 of standard submissions are excluded.

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Apply Quantitative Modelling

We fit reference price curves to the polled data, scale them daily using the Price Forward Curve, and use the spread between toll and floor prices to back out the market-implied revenue volatility and total expected merchant revenues.
Our approach builds on more than 10 years of trusted PPA pricing expertise.

Why BESS Benchmarks Are Needed

  • Flexibility Purchase Agreements (FPAs) are bilateral, structures aren't standardized, and prices aren't reported.

    Most originators, investors and risk teams value assets and sign contracts against forecasts rather than market data.

    While forecasts are a modelled, bankable view, Pexapark’s benchmarks provide a dynamic market view of today’s forward prices. This enables you to enrich investment cases with expected revenues based on the market consensus. Today, you need both a forecast and a current market view.

    Every commodity is valued on today’s forward prices – BESS should be too. Pexapark makes this possible.

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FAQ

  • In which markets does Pexapark produce BESS Price Benchmarks?

    Daily Flexibility Purchase Agreement (FPA) price benchmarks are now live for Germany, Spain and France. Italy and GB are on the planned road map for 2026 and coming soon.

    We currently have established BESS price polls in Germany, Spain, France, Italy and ERCOT.

    In addition to FPA benchmarks, Pexapark also produces reference prices for co-located PPAs – showing the Fair Value and price uplift your wind or onshore wind asset can achieve when co-locating with BESS.

    Co-located BESS PPA Fair Values are available for, Belgium, Finland, France, Germany, GB, Greece, Italy, Netherlands, Poland, Romania and Spain. 

  • What price outputs are produced from Pexapark's BESS methodology

    Pexapark’s BESS methodology,  produces three key data outputs:

    1. Daily reference prices for the three standard contract types – tolls, floors and day-ahead swaps. The platform shows a daily updated risk-adjusted Fair Value for these contracts.
    2. A market-implied forward revenue stack that shows the total revenue the market expects a battery to earn, with a separate day-ahead component.
    3. Transactable price ranges that show where buyers and sellers are actually willing to transact. Refreshed monthly.
  • What assumptions does Pexapark's BESS methodology apply?

    Pexapark’s BESS reference prices apply to a standardized asset profile. Standardization is what makes prices comparable across markets, structures and tenors.

    Battery Duration: 2 hours and 4 hours, standalone

    Minimum Asset Size: Greater than 20 MW

    Cycles per year: 730 (average of two per day)

    Round-trip efficiency: 85%

    Availability: 95%. No scheduled maintenance during high-volatility
    periods

    Degradation: 2.5% linear per year (applied to capacity at 730 cycles per
    year)

    Grid Connection: Unconstrained

    Profit Share (floors): 10% off-taker / 90% owner. Annually reconciled

    TBx Specifics: Synthetic financial instrument. No degradation,  efficiency or availability assumptions

    Update frequency – reference prices: Daily

    Update frequency – transactable ranges: Monthly

  • What is the difference between a forecast and Pexapark's market-based benchmarks?

    A forecast vendor models where they think BESS revenue components will land in 2028 or 2030.

    Pexapark adds the observable layer, showing you what the market is pricing today on tolls, floors and TBx, and reverse-engineers the  implied revenue stack from those prices.

    The two are complementary. Only one is anchored in market evidence.

    Think about house prices. A forecaster can tell you where a particular street might trade in three years. A real-estate agent who knows the recent bids and offers can tell you what someone will actually pay today. Both are useful. But only the second is a market price.

    Pexapark is the second. Forecasters are the first.

  • What does the toll-floor spread show?

    The toll-floor spread is, in effect, an implied volatility readout.

    It shows that there is uncertainty in future revenues, and the width of this spread indicates how much.

    For example if next month the spread widens to EUR 50k, the market is pricing in more uncertainty. If it tightens to EUR 15k, the market sees steadier earnings. 

  • What does Pexapark's Transactable Price Range show?

    On the Pexapark platform the transactable range shows where the actual bid-offer overlap sits.

    For a 50 MW asset, moving from the median to the top of the range can add up to EUR 7.7 million in gross contracted revenue over a 7-year toll (illustrative figure from the May 2026 webinar ‘Pricing BESS in a Volatile Market: Benchmarks for Tolls, Floors & Structured Deals’)

  • What is Pexapark's BESS forward revenue stack?

    The forward revenue stack is the market’s expectation of what a battery will earn each year, broken into revenue streams. Pexapark reports two components:

    • Day-ahead component. Modeled explicitly from the hourly forward curve and TBx quotes from active market participants.

    • Intraday plus ancillary services. Reported together because no standardized forward product exists for either one. Backed out from the toll and floor prices once the day ahead piece is removed.

    Capacity Remuneration Mechanism payments are excluded from the Pexapark forward revenue stack.