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Why state of charge is key to BESS success with Blake Rector (Principal, Markets & Optimization @ Powin)
From arbitraging volatility and unlocking grid stability, battery energy storage is playing an increasingly central role in power markets. But even the most well optimized units can fall short of their potential if one key metric is off: state of charge (SOC). Get it wrong, even slightly, and the revenue losses can be staggering.State of charge is hard to measure accurately - errors can compound over time, and what operators do to improve performance can make huge differences in profitability. Whether you're an asset owner, optimiser, or just want to understand the real-world constraints behind battery revenue models, this conversation is packed with detail and lessons that could change how you think about storage strategy.In this episode of Transmission, Quentin sits down with Blake Rector, Director of Markets and Optimization at Powin explore the nuances of SOC. Over the course of the conversation, you’ll hear about:Why state of charge matters: How even a 1% error in SOC estimation can significantly reduce revenue from energy trading and grid services.Operational vs. theoretical capacity: The difference between nameplate and usable capacity, and why operators often leave value on the table.Forecasting and dispatch constraints: Why better SOC management means more flexibility and higher earnings in volatile markets.Hardware vs. software approaches to SOC: What Powin has learned about algorithmic improvements, calibration strategies, and real-time feedback loops.Powin’s scale and strategy: With 17 GWh online or under construction, what’s next for one of America’s fastest-growing battery OEMs?About our guestBlake Rector is Director of Markets and Optimization at Powin, where he leads the company’s efforts to maximise the performance and revenue of battery energy storage systems across multiple markets. With a background in energy markets, analytics, and operational strategy, Blake focuses on the interface between algorithmic control, asset health, and market opportunity.Powin is a U.S. based global energy storage platform provider specializing in fully integrated, utility-scale battery energy storage systems. With over 17 GWh of systems deployed or under construction worldwide, Powin delivers scalable solutions that enable the transition to clean, reliable, and affordable energy. For more information, head to their website. About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.
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34:55
Navigating Merchant Risk in Australia with Dennis Freedman (Managing Director @ Aquila Clean Energy)
As the energy transition in Australia and New Zealand accelerates, the ability to develop, finance, and operate renewable energy projects is becoming increasingly complex. Success now demands more than technical delivery, it requires a deep understanding of market risk, community engagement, and long-term asset management.From battery storage financing to the growing importance of social license, this episode explores navigating risk, engaging communities, and why having a long-term view matters more than ever, as Australia navigates away from the traditional model of centralised coal and gas toward a more renewables centred generation stack.In this episode of Transmission, Wendel joined by Dennis Freedman, Managing Director for Australia and New Zealand at Aquila Clean Energy. Over the course of the conversation, you’ll hear about:Aquila Clean Energy’s approach to battery storage: Why being comfortable with merchant risk is vital and how the debt market’s view on batteries is changing.The challenge of modelling batteries vs. wind and solar: Why volatility and spread are what matter for storage revenues.Australia vs. New Zealand: Comparing two very different energy systems, from hydro dominance to nodal pricing structures.Social license and misinformation: Why community engagement is becoming the biggest challenge for new projects and how developers can get it right.The future of the grid: Why replacing coal requires not just generation, but massive investment in transmission and why politics is increasingly slowing the transition.Mentioned in the episodeDennis is a member of the Clean Energy Council, if you would like to learn more about the CEC, head over to their website. About our guestDennis Freedman is Managing Director for Australia and New Zealand at Aquila Clean Energy, where he oversees the development, construction, and operation of renewable and storage projects across the region. With nearly 20 years of experience in the energy industry, Dennis brings a long-term perspective to market risk, community engagement, and what it really takes to scale clean energy infrastructure.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.
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38:34
Battery storage and bank financing with Bryan Long (Executive Director @ JPMorganChase)
Battery storage has quickly moved from a niche technology to a core pillar of the energy transition. But one big question has remained: when will the world's largest banks fully get behind it? And what will it take for battery projects to attract long-term, large-scale financial backing?How are market structures, price signals, and contract innovations shaping the future of battery investment? And what do developers, asset owners, and market participants need to understand as the sector matures?In this episode of Transmission, Quentin is joined by Bryan Long, Executive Director at JP Morgan, to explore how major banks are approaching battery storage. Over the course of the conversation, you’ll hear about:The evolution of the US power markets: How market structures have enabled huge investment in renewables and what’s changing as load growth accelerates.The tipping point for batteries: Why banks like JP Morgan are now engaging in battery storage and what portfolio scale means for financing.Battery portfolios vs. single assets: How portfolio effects smooth returns, de-risk projects, and open new hedging strategies.Forward hedging for batteries: Why linking short-term battery operations with long-term forward markets is the next step for financial maturity.The rise of new trading products: How market participants are pricing volatility, risk, and revenue certainty across high and low-demand periods.US vs. European market dynamics: How the US remains the global leader in sending investable price signals and what Europe can learn as it faces its own transition challenges.About our guestBryan Long is Executive Director at JP Morgan, specialising in power markets, commodity risk management, and structured energy products. With a background spanning real-time trading, renewables origination, and large-scale hedging strategies, Bryan helps clients navigate the evolving landscape of US energy markets—and build resilience as the grid transitions toward more flexible, renewable systems.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.
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45:51
Retail energy trading with Gethin Musk (Head of Trading @ OVO Energy)
Retail energy may seem like a simple business on the surface. Sell electricity, serve customers - but behind the scenes, it’s anything but. Every household bill is backed by a series of decisions: how to hedge supply, when to lock in prices, and how to manage risk across millions of customers. As volatility increases and decarbonisation accelerates, the pressure on energy retailers to get those decisions right is only growing.In this episode of Transmission, Ed speaks with Gethin Musk, Head of Trading at OVO, one of the UK’s leading energy suppliers. Gethin gives a behind-the-scenes look at how retail portfolios are managed, why hedging is such a delicate balancing act, and how flexibility assets like batteries might reshape the future of consumer energy costs. Throughout the conversation, you'll hear about: The fundamentals of retail hedging: What does it actually take to hedge a retail book and why is it more complicated than it looks?Managing customer risk: How retailers like OVO protect their customers from price shocks, and what happens when volatility spikes.The role of batteries in supply portfolios: Are flexible assets like storage a viable tool for smoothing retail exposure?Innovation vs. margin pressure: How retailers are navigating the tension between net zero ambitions and competitive pricing.Working in trading: Gethin shares what skills matter most, how his team is structured, and advice for those looking to enter energy trading from non-traditional backgrounds.About our GuestGethin Musk is Head of Trading at OVO, where he oversees the company’s wholesale energy procurement and risk management strategies. With a background spanning utilities, trading, and market operations, he plays a key role in ensuring OVO’s retail portfolio stays resilient, cost-effective, and aligned with the broader energy transition. For more information, head to the OVO website. About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy site. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.
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45:13
AI in Power Trading with David Miller
As artificial intelligence reshapes every sector, its impact on energy markets is only just beginning to unfold. From smarter forecasts to autonomous trading, AI is opening new doors for market access, optimisation, and commercial participation.What does it take to go from hype to real-world performance? How can AI lower barriers for new entrants, and how are platforms like Gridmatic helping to automate the complexity of trading in volatile markets? Whether you’re an asset owner, trader, or just curious about how automation is changing the energy landscape, today we’re unpacking where AI is heading and what that means for the future of power market participation.In this episode of Transmission, Quentin sits down with David Miller, VP of Business Development at Gridmatic, to unpack what AI really means in a power market context. Over the conversation you’ll hear about:• What AI actually does in power markets: Beyond the buzzwords, David walks through the core functions of Gridmatic’s AI - from forecasting to bidding to real-time optimisation.• Access vs. optimisation: Why some market participants struggle just to get in the door and how AI can streamline onboarding, participation, and profitability.• Volatility and opportunity: As market spreads become more dynamic, AI-driven strategies are proving especially valuable for batteries and flexible assets.• Trusting the black box: What does it take for asset owners to feel confident letting an algorithm take the wheel?• AI vs. traditional strategies: Why Gridmatic sees its advantage in consistently adapting to changing price signals and operational constraints faster than human traders can.About our guestDavid Miller is Vice President of Business Development at Gridmatic, a US-based AI-powered energy trading firm. With a background spanning renewable energy, commercial strategy, and digital innovation, David works closely with asset owners, developers, and market operators to unlock the full potential of autonomous trading in electricity markets. For more information on what Gridmatic do, head to their website.About Modo EnergyModo Energy helps the owners, operators, builders, and financiers of battery energy storage solutions understand the market - and make the most out of their assets.All of our podcasts are available to watch or listen to on the Modo Energy terminal. To keep up with all of our latest updates, research, analysis, videos, podcasts, data visualizations, live events, and more, follow us on LinkedIn or Twitter. Check out The Energy Academy, our bite-sized video series breaking down how power markets work.
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43:21