The best hour by hour stack paid one megawatt in SE3 €52,108 in February 2024 and €19,306 in March 2026
Swedish batteries earn mostly by holding reserve for Svenska kraftnät, which buys it in hourly markets and publishes every price and every volume. These figures are what one megawatt could have been paid, month by month, in each market and zone and in the best stack of them, calculated by Vitreous from Svenska kraftnät’s own files. They are a ceiling, before any cost and with perfect hindsight; a real battery earns less. Svenska kraftnät publishes no bidder, so nothing here is for a named battery.
Svenska kraftnät’s Data Service read 25 October 2026; prices to October 2026. Euros, before any cost. Rebuilt on every refresh.
Held back until the publisher answers in writing: Svenska kraftnät’s Mimer files, the only home of FCR after 14 April 2026 and of FCR’s pay as bid prices before February 2024, which state no terms of reuse; eSett’s metered battery output per zone, whose terms say the data is public but grant no right to republish; the county boards’ public diaries, which carry no terms at all. Each is read and kept on schedule, and the pages are built to show it the day the answer comes.
The ceiling, zone by zone: SE4 paid the most over the last twelve months, €548,271, and SE3 €500,445
In each hour the megawatt is sold into FCR-N, which covers both directions at once, or once upward and once downward into the best of the other markets, whichever pays more, and only into a market in which Svenska kraftnät bought something that hour. FCR is one market for the whole country, so the difference between the zones is aFRR and mFRR, which are priced zone by zone. The four charts share one scale.
SE1
€484,422 over the twelve months to March 2026
SE2
€470,149 over the twelve months to March 2026
SE3
€500,445 over the twelve months to March 2026
SE4
€548,271 over the twelve months to March 2026
FCR is in the stack from February 2024, when it moved to one clearing price, to 14 April 2026, when Svenska kraftnät stopped publishing it on its Data Service; the bars before and after are not drawn, because the stack without FCR would understate them. The grey bar is a part month.
Each market on its own, in SE3
One megawatt sold only into that market, every month, on one scale so the markets can be read against each other. The single figures must not be added: a megawatt cannot be in two markets at once, except one up and one down, which is what the pairs count. The highest single hours are far above the rest: the mFRR capacity price in SE4 reached €3,264 for one megawatt in one hour in June 2025, against a median of about €40 that month, so a month’s figure can turn on a few hours.
FCR-N
frequency containment for normal operation, held both ways at once; one market for all four zones
€244,915 over the twelve months in SE3; bars above €20,000 are cut, the highest €86,949 in Apr 2024.
FCR-D up
frequency containment for disturbances, upward, released when the frequency falls; one market for all four zones
€56,040 over the twelve months in SE3.
FCR-D down
the same, downward, released when the frequency rises
€47,151 over the twelve months in SE3; bars above €20,000 are cut, the highest €100,943 in Apr 2024.
aFRR up
automatic frequency restoration, upward capacity, priced zone by zone
No twelve month figure in this read.
aFRR down
automatic frequency restoration, downward capacity
No twelve month figure in this read; bars above €20,000 are cut, the highest €21,076 in Jul 2024.
mFRR up
the manual reserve’s capacity market, upward, priced zone by zone
€278,317 over the twelve months in SE3; bars above €20,000 are cut, the highest €68,326 in Mar 2025.
mFRR down
the same, downward
€137,926 over the twelve months in SE3; bars above €20,000 are cut, the highest €35,307 in Jun 2025.
The last twelve full months, zone by zone
Euros for one megawatt, by Swedish month, before any cost. Every month, market and zone as a CSV · storage approved against volume bought, as a CSV.
SE1, Luleå, the last twelve full months
| Market | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Twelve months |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCR-N | €26,949 | €25,970 | €22,558 | €15,558 | €23,648 | €22,940 | €22,279 | €19,665 | €12,147 | €17,366 | €20,734 | €15,101 | €244,915 |
| FCR-D up | €6,414 | €4,076 | €3,395 | €3,899 | €5,335 | €4,551 | €5,109 | €6,088 | €3,697 | €5,054 | €5,652 | €2,771 | €56,040 |
| FCR-D down | €8,195 | €10,919 | €4,625 | €1,800 | €3,607 | €5,761 | €3,057 | €2,014 | €1,337 | €860 | €1,433 | €3,545 | €47,151 |
| aFRR up | €13,028 | €4,220 | €5,631 | €3,306 | €5,670 | €5,733 | €2,628 | €1,117 | €1,400 | €821 | · | · | · |
| aFRR down | €20,516 | €11,076 | €18,297 | €16,464 | €13,845 | €10,742 | €13,158 | €7,458 | €7,064 | €7,820 | €5,963 | €7,634 | €140,035 |
| mFRR up | €21,149 | €14,291 | €17,177 | €11,841 | €17,499 | €13,602 | €12,224 | €10,957 | €7,279 | €14,275 | €12,062 | €1,971 | €154,326 |
| mFRR down | €44,032 | €36,113 | €43,701 | €39,922 | €13,093 | €21,024 | €28,446 | €10,401 | €8,951 | €9,002 | €10,220 | €19,627 | €284,531 |
| FCR-D up and down | €14,608 | €14,995 | €8,019 | €5,698 | €8,941 | €10,311 | €8,166 | €8,103 | €5,034 | €5,914 | €7,085 | €6,316 | €103,191 |
| aFRR up and down | €33,544 | €15,296 | €23,927 | €19,769 | €19,514 | €16,475 | €15,786 | €8,575 | €8,464 | €8,641 | €5,963 | €7,634 | €183,588 |
| mFRR up and down | €65,181 | €50,404 | €60,878 | €51,763 | €30,592 | €34,626 | €40,671 | €21,358 | €16,230 | €23,277 | €22,282 | €21,598 | €438,857 |
| Best product each hour (ceiling) | €70,183 | €57,151 | €62,979 | €52,383 | €34,565 | €37,674 | €41,946 | €25,956 | €18,686 | €28,714 | €29,794 | €24,391 | €484,422 |
SE2, Sundsvall, the last twelve full months
| Market | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Twelve months |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCR-N | €26,949 | €25,970 | €22,558 | €15,558 | €23,648 | €22,940 | €22,279 | €19,665 | €12,147 | €17,366 | €20,734 | €15,101 | €244,915 |
| FCR-D up | €6,414 | €4,076 | €3,395 | €3,899 | €5,335 | €4,551 | €5,109 | €6,088 | €3,697 | €5,054 | €5,652 | €2,771 | €56,040 |
| FCR-D down | €8,195 | €10,919 | €4,625 | €1,800 | €3,607 | €5,761 | €3,057 | €2,014 | €1,337 | €860 | €1,433 | €3,545 | €47,151 |
| aFRR up | €13,256 | €10,744 | €9,079 | €7,323 | €5,321 | €7,099 | €5,922 | €2,087 | €919 | €424 | €60 | €228 | €62,462 |
| aFRR down | €20,986 | €16,609 | €19,861 | €17,547 | €13,745 | €12,653 | €14,383 | €11,257 | €8,564 | €8,457 | €8,580 | €13,872 | €166,514 |
| mFRR up | €21,791 | €15,229 | €25,830 | €18,552 | €20,097 | €14,462 | €12,913 | €11,189 | €7,378 | €14,557 | €12,368 | €1,765 | €176,129 |
| mFRR down | €42,257 | €34,484 | €40,462 | €24,225 | €12,152 | €11,084 | €15,687 | €9,051 | €6,938 | €6,036 | €8,410 | €15,888 | €226,674 |
| FCR-D up and down | €14,608 | €14,995 | €8,019 | €5,698 | €8,941 | €10,311 | €8,166 | €8,103 | €5,034 | €5,914 | €7,085 | €6,316 | €103,191 |
| aFRR up and down | €34,242 | €27,353 | €28,940 | €24,870 | €19,066 | €19,752 | €20,305 | €13,344 | €9,483 | €8,881 | €8,640 | €14,100 | €228,976 |
| mFRR up and down | €64,048 | €49,712 | €66,292 | €42,777 | €32,250 | €25,546 | €28,600 | €20,241 | €14,316 | €20,592 | €20,778 | €17,652 | €402,803 |
| Best product each hour (ceiling) | €69,096 | €58,729 | €69,419 | €44,491 | €36,905 | €31,112 | €34,458 | €26,558 | €18,345 | €28,345 | €29,564 | €23,126 | €470,149 |
SE3, Stockholm, the last twelve full months
| Market | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Twelve months |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCR-N | €26,949 | €25,970 | €22,558 | €15,558 | €23,648 | €22,940 | €22,279 | €19,665 | €12,147 | €17,366 | €20,734 | €15,101 | €244,915 |
| FCR-D up | €6,414 | €4,076 | €3,395 | €3,899 | €5,335 | €4,551 | €5,109 | €6,088 | €3,697 | €5,054 | €5,652 | €2,771 | €56,040 |
| FCR-D down | €8,195 | €10,919 | €4,625 | €1,800 | €3,607 | €5,761 | €3,057 | €2,014 | €1,337 | €860 | €1,433 | €3,545 | €47,151 |
| aFRR up | · | · | · | · | €545 | €726 | €54 | · | €96 | · | · | · | · |
| aFRR down | · | €2,185 | €3,761 | €8,792 | €6,761 | €5,175 | €7,969 | €5,167 | €5,346 | €4,472 | €1,730 | €6,644 | · |
| mFRR up | €29,428 | €26,989 | €35,028 | €29,761 | €29,648 | €28,467 | €35,812 | €20,293 | €9,671 | €15,578 | €12,989 | €4,651 | €278,317 |
| mFRR down | €30,046 | €23,450 | €35,307 | €18,399 | €7,311 | €7,931 | €5,149 | €3,306 | €2,209 | €1,353 | €1,600 | €1,866 | €137,926 |
| FCR-D up and down | €14,608 | €14,995 | €8,019 | €5,698 | €8,941 | €10,311 | €8,166 | €8,103 | €5,034 | €5,914 | €7,085 | €6,316 | €103,191 |
| aFRR up and down | · | €2,185 | €3,761 | €8,792 | €7,306 | €5,901 | €8,023 | €5,167 | €5,442 | €4,472 | €1,730 | €6,644 | · |
| mFRR up and down | €59,474 | €50,439 | €70,335 | €48,160 | €36,959 | €36,398 | €40,961 | €23,599 | €11,880 | €16,931 | €14,589 | €6,518 | €416,242 |
| Best product each hour (ceiling) | €63,812 | €57,417 | €72,052 | €49,814 | €42,164 | €42,658 | €48,574 | €32,072 | €18,868 | €27,105 | €26,603 | €19,306 | €500,445 |
SE4, Malmö, the last twelve full months
| Market | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Twelve months |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCR-N | €26,949 | €25,970 | €22,558 | €15,558 | €23,648 | €22,940 | €22,279 | €19,665 | €12,147 | €17,366 | €20,734 | €15,101 | €244,915 |
| FCR-D up | €6,414 | €4,076 | €3,395 | €3,899 | €5,335 | €4,551 | €5,109 | €6,088 | €3,697 | €5,054 | €5,652 | €2,771 | €56,040 |
| FCR-D down | €8,195 | €10,919 | €4,625 | €1,800 | €3,607 | €5,761 | €3,057 | €2,014 | €1,337 | €860 | €1,433 | €3,545 | €47,151 |
| aFRR up | · | · | · | · | · | · | · | · | · | · | · | · | · |
| aFRR down | · | · | · | · | · | · | · | · | · | · | · | · | · |
| mFRR up | €33,229 | €37,981 | €62,232 | €34,520 | €39,942 | €27,201 | €36,145 | €24,655 | €16,463 | €16,900 | €14,948 | €19,143 | €363,360 |
| mFRR down | €29,695 | €22,723 | €34,832 | €18,202 | €7,278 | €7,764 | €5,234 | €3,289 | €2,213 | €1,360 | €1,616 | €1,822 | €136,029 |
| FCR-D up and down | €14,608 | €14,995 | €8,019 | €5,698 | €8,941 | €10,311 | €8,166 | €8,103 | €5,034 | €5,914 | €7,085 | €6,316 | €103,191 |
| aFRR up and down | · | · | · | · | · | · | · | · | · | · | · | · | · |
| mFRR up and down | €62,924 | €60,704 | €97,064 | €52,722 | €47,221 | €34,965 | €41,379 | €27,944 | €18,676 | €18,260 | €16,564 | €20,966 | €499,389 |
| Best product each hour (ceiling) | €66,841 | €67,004 | €98,418 | €52,926 | €49,432 | €39,650 | €44,549 | €32,385 | €20,808 | €24,823 | €26,180 | €25,255 | €548,271 |
How each figure is made
Each hour’s price is in euros for one megawatt held for that hour, so the money for one megawatt in an hour is its price. An hour goes in the month in which it starts, in Swedish time. An hour counts only if Svenska kraftnät bought something in that market: for FCR anywhere in its market, Sweden and DK2 together, as it buys it; for aFRR and mFRR in the zone itself. If it bought nothing, no battery was paid, whatever price is shown. FCR is bought in two auctions, two days and one day ahead, each with its own price; the hour’s FCR price is the two weighted by the volume each bought, which is what the average megawatt bought was paid. The pair figures add the up side and the down side, because a battery can hold one megawatt up and one down in the same hour. The ceiling takes, each hour, the better of FCR-N or the best upward product plus the best downward one. The calculation is se/tools/revenue.py in the repository.
Two copies of the same market disagree before February 2024, and agree to the cent after it
Svenska kraftnät publishes FCR twice: on its Data Service under an open licence, and on its older Mimer site. Read hour by hour against each other, the two agree to the cent on every month from February 2024, when FCR moved to one clearing price. Before that, when FCR was paid as bid, the Data Service’s price sits above Mimer’s by 45% on average, month by month, at about the highest bid accepted, although its own note calls it an average; Mimer’s is the average accepted bid, which is what an average megawatt was paid. So the months before February 2024 are taken from Mimer or not shown, never from the Data Service. The comparison is se/revenue/check.csv in the repository.
What is left out
Energy trading on the day-ahead and intraday markets, which a battery of two hours and more depends on, because those prices are Nord Pool’s and Nord Pool declined permission to show them; Svenska kraftnät republishes the day-ahead price on its Data Service, and whether that licence covers showing it here has been asked. The fast frequency reserve, FFR, bought on days of low inertia, which is not yet read. The energy paid when a reserve is used, and the imbalance price. Availability, degradation, the trader’s share, grid charges and the cost of being out of balance, none of which is taken off. So these are the most a megawatt could have been paid, and a real battery earns less.
Source: Svenska kraftnät, Data Service at data.svk.se, datasets fcr_capacity_market (to 14 April 2026), afrr_capacity_market and mfrr_capacity_market, CC BY 4.0, “Source: Svenska kraftnät”, read 25 October 2026. The figures are calculated by Vitreous; Svenska kraftnät has not checked them.