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Gresham House Energy Storage Fund PLC - invests for income from utility-scale battery energy storage systems; managed by Gresham House - Predicts more revenue opportunities for its battery assets from the launch by the UK power grid operator of the new Open Balance Platform and Bulk Dispatch Optimiser. The investment fund says the National Grid Electricity System Operator has started to trade battery energy storage systems in the Balancing Mechanism. "It is too early to point to the specific revenue impact, but the initial indications are positive and, based on provisional data, are expected to lead to increased revenue opportunities for our assets," the company says, adding it will add more of its assets into the Balancing Mechanism in December and in the first quarter of next year.
"We are pleased to see the ESO delivering on its commitment to the decarbonisation of the electricity system with the OBP and BDO launch," says Ben Guest, who manages the fund. "These systems make it possible to balance the grid with much-reduced fossil fuel use while making potential savings to the end consumer."
Current stock price: 109.25 pence
12-month change: down 33%
By Tom Waite, Alliance News editor
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