Inside the Rise of Storage with Tom Thunell of Tyba

Nov 27, 2025

Tom Thunell, co-founder and CEO of Tyba, shares insights from the forefront of the battery storage market. He discusses the implications of ERCOT's upcoming real-time co-optimization and its impact on storage revenues. The conversation dives into how storage is becoming the primary driver of investment in the US, particularly post-IRA. Tom also highlights the rise of large behind-the-meter deployments and the need for IPPs to adapt their strategies to manage these evolving portfolios effectively. Don't miss his tips on navigating the complexities of the storage landscape!

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INSIGHT

Industrial Power Subsidies Will Reshape PPA Demand

Germany plans a €50/MWh industrial power subsidy for up to half of eligible firms' load from 2026 for three years.
Luca notes this could materially shift long-term clean energy contracting and PPA demand dynamics in Europe.

INSIGHT

Demand Flexibility Is Becoming Mainstream

Romania will launch a demand-side flexibility market allowing large users to offer reductions into day-ahead markets.
Luca highlights this as part of a broader shift to manage load alongside supply across Europe and the US.

INSIGHT

Storage Shifts From Margin To Center Stage

Storage is moving from margin stabilizer to central grid enabler as data centers and industry add flexible load.
Luca predicts rapid adoption once storage economics align, citing Tesla's data-center Megapack push.

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Welcome back to The Pexapark Podcast! In the first part of the episode, we look at how policy and markets are converging around storage and flexibility. Germany is preparing an industrial power price subsidy from 2026, offering 50 €/MWh for part of energy-intensive companies’ load over three years, while France’s EDF has widened access to its long-term nuclear-based contracts to thousands more companies beyond just heavy industry. Romania is launching a demand-side flexibility market, allowing large users to offer demand reductions in the day-ahead market and share revenues with consumers – part of a broader shift across Europe and the US toward managing load as well as supply.

In Italy, the post-MOXIE battery storage market is moving from tolling agreements toward day-ahead spread swaps as investors increasingly bet on widening spreads and more negative prices. Meanwhile in ERCOT, BESS revenues have dipped even as long-term arbitrage values reach record highs and toll offers stay flat, driving renewed interest in storage dealmaking.

In the second part, Luca Pedretti speaks with Tom Thunell, co-founder of Tyba, about how the US battery storage market is evolving and what this shift means for IPPs transitioning from traditional renewables into storage-heavy portfolios. Enjoy a discussion on themes including:

ERCOT’s upcoming real-time co-optimization shift and how it reshapes storage revenues and trading strategies
Why storage is increasingly becoming the lead investment driver in hybrid projects
The rise of large behind-the-meter and data-center-linked storage deployments
Key differences in value stacks and operations between markets like CAISO and ERCOT
Why many ISOs still undervalue storage in capacity accreditation – and how early movers offer lessons
How IPPs must shift from development-finance models to more trading- and operations-centric approaches
Portfolio strategies for new storage investors, from leveraging existing interconnections to diversifying markets and offtake structures

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