Trading built by an operator
- not just a trader.
NGEN Smart Trading is a route-to-market and optimisation service for utility-scale battery storage on Europe's wholesale and balancing markets.
NGEN's Foundation
We have traded our
own batteries since 2019.
Monthly statement by the 15th of the following month, payment within 14 business days. We carry balance responsibility and imbalance management, plus REMIT reporting for assets in our balance group.
- NGEN-owned battery storage under management700 MWhon the same markets where your asset will trade4 TSOslive integrations with ELES, APG, HOPS and PSE. BSP registration underway in Latvia, Romania, Portugal and Germany
- revenue streams6optimised and traded simultaneously: FCR, aFRR, mFRR, day-ahead, intraday, plus grid costs and constraints24/7trading desk coverage, with our own algorithms and EU data centres
Technical Approach
Same battery.
Different dispatch.
In May 2025, a 10 MW / 20 MWh battery produced two results on one market. Only the strategy changed:
the problem
Single market
A battery locked to one market misses value when prices, balancing needs and grid conditions move during the day.
Before
13,000
€ / MW
arbitrage on one market only
The solution
Multiple markets at once
The asset did not change. Market access and dispatch logic create the difference, and the effect repeats every month of operation. The figure covers one month and is not an annual run-rate; the ratio matters, not the absolute level.
After
31,500
€ / MW
2,4x gAP
day-ahead + intraday + aFRR capacity + aFRR energy
WHY NOW?
Four questions for any
optimiser, including us.
The answers show who actually captures the available spread. Each question links to our answer on this page.
HOW IT WORKS
Four stages.
One counterparty.
Connection and prequalification typically take
4-8 weeks once the commercial route is
agreed.
4-8 weeks once the commercial route is
agreed.
Stage 01 · NGEN BOX
Connect
We connect the asset to our platform through the NGEN Box controller and prequalify it with the transmission system operator as an individual technical unit.
Stage 02 · SG TRADER
Optimise
SG Trader combines price, load, weather and battery-state forecasts with your technical constraints, and reoptimises the plan for every market continuously through the day.
Stage 03 · TRADING DESK 24/7
Trade
Our trading desk executes positions on wholesale and balancing markets under our own BRP and BSP licences, 24 hours a day.
Stage 03 · REPORTING
Settle
We take over balance responsibility and imbalance management, with REMIT reporting for assets in our balance group. The monthly statement shows every activation and the results attributed to your asset.
THE CORE CAPABILITY
One battery.
Multiple markets.
Your battery holds a position across every market at once, adjusting through the day as prices, forecasts and grid conditions move.
Prequalified assets also participate in the European balancing platforms MARI (mFRR) and PICASSO (aFRR) through our BSP registrations. Cross-border liquidity is therefore part of the position, not a future upgrade.
FCR
Frequency Containment Reserve
WHAT IT DOES
The grid's reflex, responding in seconds.
IN PRACTICE
Paid for availability whether or not it is called. Symmetric product, available in most EU markets.
aFRR
Automatic Frequency Restoration Reserve
WHAT IT DOES
Automatic correction within five minutes
IN PRACTICE
Capacity and energy are remunerated separately. Batteries are selected frequently; for many portfolios this was the largest single source in 2025.
mFRR
Manual Frequency Restoration Reserve
WHAT IT DOES
Activated by the operator under system stress
IN PRACTICE
Called rarely, paid for availability.
Day ahead
WHAT IT DOES
Hourly and 15-minute price arbitrage
IN PRACTICE
Captures the spread between the cheapest and most expensive hours is the margin.
Intraday
WHAT IT DOES
Continuous trading up to delivery
IN PRACTICE
Adjusts positions to changing forecasts and grid conditions. Higher volatility, higher value.
Local grid services
WHAT IT DOES
Services to the distribution operator, where the market exists.
IN PRACTICE
An emerging line, market by market.
The platform
Own software.
EU hosting.
We write the software and host it in NGEN EU data centres. No third-party optimisation engine or non-EU cloud provider sits in the path.
NGEN Box
Site controller for real-time signal exchange and technical-unit prequalification.
ESGP
Energy Smart Grid Platform: asset management, market access, real-time monitoring and dispatch control, with live API integrations to TSOs.
SG Trader
Optimisation and allocation engine. It places capacity where it earns most, inside technical and warranty limits.
Reporting
Revenue, dispatch history, state of charge, cycles, forecasts and monthly statements.
ASSET LIFE
Revenue matters.
So do the cycles.
Every battery has losses and a degradation curve. Bad dispatch burns cycles for thin margins, then shows up later as earlier augmentation capex.
1
Asset limits shape dispatch
State of charge, depth of discharge, ramp rate, temperature and warranty terms are inputs.
2
You set the cycle budget
We implement it and report against it.
3
Cycles and throughput are tracked
They sit next to revenue in the warranty envelope.
4
We carry consequences too
On assets we build, we also carry maintenance and availability obligations.
Who it is for?
For front-of-meter
storage.
Standalone utility-scale battery storage
A grid-connected battery, prequalified as an individual technical unit, from about 5 MW upwards. Most of these projects are owned by investors and developers, which is why the route to market is bought rather than built in-house.
Storage co-located with generation
A battery sharing its connection point with a solar, wind or hydro plant. We operate it as one hybrid unit: the existing connection point shortens the route to market, and surplus generation is stored instead of curtailed.
Behind the meter?
Industrial flexibility, on-site generation and G-MAX sit under SG Connect For Business. Renewable generation without storage?
Contact Us
COMMERCIAL MODELS
Choose the
risk profile.
Different owners want different market exposure. We structure the deal around the financing.
Tolling leads in weak years, merchant leads in strong ones. The right model depends on your balance sheet and lender.
Fully merchant
You take full market exposure and capture the optimisation value, less an agreed share.
Who it Suits?
Owners comfortable with volatility who want maximum upside
We carry
Nothing structural. We earn only when your asset earns.
Floor
A guaranteed minimum annual payout per MW and a share of everything above it. Floors can be capped or uncapped.
Who it Suits?
Institutional owners and any project with debt
We carry
Part of the market risk: the difference between the floor and the asset's actual earnings in a weak year.
Tolling
A fixed monthly fee per MW of installed power, independent of the market outcome.
Who it Suits?
Low risk appetite; project finance structures
We carry
All of the market risk.
Illustrative payout split
Fully merchant
Weak year
gross 100
90
Strong year
gross 250
225
Floor
Weak year
gross 100
120
Strong year
gross 250
200
Tolling
Weak year
gross 100
130
Strong year
gross 250
130
Weak year:
Assume gross revenue of 100
Strong year:
Assume gross revenue of 250
Tolling:
Tolling leads in weak years; merchant leads in strong ones. The right model depends on your balance sheet and lender.
Floor:
Floors depend on agreed availability. We quote against the asset specification, not a price list.
The platform
Own software.
EU hosting.
We write the software and host it in NGEN EU data centres. No third-party optimisation engine or non-EU cloud provider sits in the path.
Slovenija
TSO
ELES
NOTES
STATUS
LIVE: BRP, BSP, supply
Austria
TSO
APG
NOTES
STATUS
LIVE: BSP
Croatia
TSO
HOPS
NOTES
STATUS
LIVE: BSP
Poland
TSO
PSE
NOTES
STATUS
LIVE: integration
Germany
TSO
50Hertz · Amprion · TenneT · TransnetBW
NOTES
STATUS
BSP registration in progress
Latvia
TSO
AST
NOTES
STATUS
Registration in progress
Romania
TSO
Transelectrica
NOTES
High day-ahead spreads; few active optimisers.
STATUS
Registration in progress
Portugal
TSO
REN
NOTES
Own project under construction.
STATUS
Registration in progress
onboarding
Six steps
to first settlement.
What we need:
Reliable connectivity and remote access, via fibre or 5G.
Maintenance arranged for the full contract term: with us where we built the asset, otherwise with another provider.
Grid connection agreement, metering registrations and permits.
Advance notice of maintenance and fast notice of outages.
step 01 · few days
Assessment
We review the battery specification, revenue potential and suitable commercial structure.
step 02 · few Weeks
Term sheet and contract
Non-binding term sheet, then the System Operation and Trading Agreement with KPIs, reporting and settlement mechanics.
step 03 · 2–4 weeks
Connection
We deliver and install the NGEN Box, build the interfaces and prove real-time signal exchange.
step 04 · 2–4 weeks
Prequalification
We manage TSO prequalification for the relevant ancillary service markets and support BSP registration.
step 05 · Continuous
Go live
Algorithmic dispatch across every qualified market, backed by 24/7 desk coverage.
step 06 · Monthly
Reporting and settlement
Daily, weekly and monthly reporting. Statement by the 15th, payment within 14 business days.
Reporting and settlement
Clear reports.
Fixed rhythm.
Monthly statements should reconcile with your financial model.
Revenue broken out by market
FCR, aFRR, mFRR, day ahead and intraday, never blended.
A full dispatch history
Every bid, acceptance, activation and delivery.
State of charge and cycles
Plus throughput, shown next to revenue.
Monthly statement by the 15th
Payment follows within 14 business days.
BRP, imbalance and REMIT reporting
Included in the service as standard.
Frequently asked questions
Questions before
signature
Request an assessment
See what your
asset can earn.
Send the battery details. We will return an indicative revenue range and commercial structure for your market. First assessment is free.
