Exposure queue

+$180K vs plan, best cycle discipline in the fleet

WinnerMeridian Dallas IIIDegradation10 MW · CATL · Fluence
Value vs guarantee
+$180K
$180,000

SOH holding 0.8pts above the warranted curve, 210 of 700 cycles used, the lowest burn rate in the fleet while still capturing top-quartile dispatch.

Opportunity: Most warranty headroom in the fleet. This is where extra cycling should go.

Recommended action

Route additional discretionary cycling here to relieve Bay City without touching warranty risk.

Evidence

The full provenance behind this number: inputs, the calculation, the underlying series, and the source.

Inputs used
SOH vs warranted curve
+0.8 pts
Dallas III BMS vs warranted curve
Cycles used YTD
210 of 700
Dallas III EMS (Fluence)
Cycle headroom
490 cycles
700 envelope less 210 used
Dispatch capture
top quartile
Fleet dispatch ranking, 2026-Q2
The calculation

+$180K vs plan = preserved warranty headroom plus top-quartile dispatch, the lowest cell-life burn in the fleet.

Warranty headroom preserved+0.8 pts SOH
Unused cycle envelope490 cycles
Value vs plan$180,000
Underlying CYCLES series, last 90 days
Revenue at stakeAssumed
Dispatch revenue forgone
$0
Warranty cost avoided
$0

Routing Bay City's discretionary throughput here captures the dispatch revenue on the fleet's cleanest warranty headroom instead of over-cycling an at-risk envelope. Dispatch value assumed at $72/MWh.

Source Dallas III · warranted curve · EMS cycle counter YTD 2026

Action timeline

Raised, actioned, expired

  1. Raised
    2026-06-17
  2. Actioned
    2026-06-25

Flagged as the fleet's warranty-headroom sink for discretionary cycling.

Related contract

What this exposure is measured against

Warranty floor SOH90.0%
Availability guarantee98.0%
Cycle envelope700/yr
RTE warranted85.0%
Augmentation cost basis$182/kWh
Contract term10 years