Energy News Today

Gore Street Energy Storage Fund PLC set for revenue boost as it participates in dynamic containment service

“Gore Street is excited to take part in this service which reinforces the benefits of our revenue stacking model, enabling our assets to participate in multiple contracts to generate significant value,” said Alex O’Cinneide

() told investors that it is now participating in the ‘s new dynamic containment service, and will have most of its operational portfolio in the service from the start of April.

Dynamic containment is a service to contain the grid’s frequency within the statutory range of +/-0.5Hz in the event of a sudden demand or generation loss, the company noted.

It is similar to ‘frequency response’ but requires a faster response, GSF added.

The company noted that in January the permitted stacking of dynamic containment services with balancing mechanism participation, which has enabled energy storage operators to optimise revenue strategies.

READ: Gore Street Energy says dividend is on track

GSF highlighted that since October dynamic containment paid an average of £17 per megawatt hour versus £6.5 MW/hr for fast frequency response during the same period.

It would potentially create a significant uplift in revenue across GSF’s 90MW of operational assets in Britain. The company specifically said that it believes that current dynamic containment prices may result in a material uplift in the company’s revenue for the current calendar year.

“Gore Street is excited to take part in this service which reinforces the benefits of our revenue stacking model, enabling our assets to participate in multiple contracts to generate significant value,” said Alex O’Cinneide, Gore Street Capital chief executive.

“We look forward to potentially adding further assets to the service over time and as leading experts in the sector, will continually seek further revenue streams to add accretive value for our shareholders.”

Read More: Gore Street Energy Storage Fund PLC set for revenue boost as it participates in dynamic containment service

2021-03-03 02:38:00

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
%d bloggers like this: