Energy Price Volatility and the Storage Business Case in Europe

Synopsis

• How are recent energy price trends in the UK and EU reshaping merchant revenues for storage? 

• What forward price curves and volatility assumptions are investors using in 2026? 

• How tariffs, carbon pricing, and geopolitical factors are influencing spreads 

• Are today’s contracts (tolls, floors, PPAs) adequately capturing future price risk — or leaving projects exposed? 

• Unpredictable cost curves and the impact of this on the commercialisation of assets