Methodology.

This page describes the principles behind the public sample signals on Meridian138°. It is intentionally a high-level methodology overview — not an implementation specification. Project-specific underwriting work is delivered through pilot engagements, not from this site.

Every figure on the public site is traceable to a public source — JEPX, OCCTO, METI, TSO publications, official auction result PDFs, government white papers, or public corporate disclosures. Sample pages reference the source documents directly so readers can verify any data point against its origin.

We distinguish clearly between three categories of information:

• Official public data — figures published directly by JEPX, OCCTO, METI, or TSOs.
• Derived by Meridian138° — aggregations, implied averages, and benchmarks we compute from public data using documented logic.
• Not disclosed — items that public sources do not contain (e.g., individual awarded prices in some auctions, project-level commercial terms).

On signal pages, the How to read this data tables make this distinction explicit on a per-figure basis.

Public sample signals describe historical or aggregate market context — not the actual revenue of any specific battery project. Theoretical benchmarks assume idealised conditions (perfect-foresight arbitrage, no efficiency loss) and are useful as a comparable, not as a forecast.

Actual project revenue depends on factors that public benchmarks cannot capture: merchant strategy, asset specifications, O&M costs, degradation, round-trip efficiency, capacity-market participation, balancing-market exposure, contract terms, clawback rules, and accredited capacity. Project-specific underwriting is handled through private pilot/project screens.

• Theoretical benchmarks assume perfect foresight. Actual dispatch will be lower.
• Round-trip efficiency, degradation, and O&M costs are excluded from public sample figures.
• Balancing-market and capacity-market revenue layers are not aggregated into the public arbitrage benchmark.
• Curtailment risk, grid-connection cost, and project-specific commercial terms are not modelled in the public view.
• Tier rankings on sample pages (e.g., Latest Month High / Moderate / Low) are relative within the displayed data window — not absolute investment grades.
• Public auction summaries reflect aggregate disclosed data only — individual awarded prices are not always public.
• Site copy describes historical or current public information; nothing on this site is a forward-looking projection.

Project-level underwriting, sensitivity cases, source-linked investment memos, and bespoke market context for specific assets, sites, or auction rounds are delivered privately through pilot engagements. The public site is a sample showcase, not a substitute for project-level diligence.