Gore Street toasts strong Q4

• Fund's UK energy storage space assets averaged ₤ 19/MWh throughout the quarter and also technical availability of 96%.

Energy storage space fund Gore Street has reported a strong last quarter in its financial year throughout its UK asset base.

Throughout the last quarter of the Company's financial year, from 1 January to 31 March 2022, Gore Street's GB assets averaged ₤ 19 per megawatt hour (MWh) throughout the quarter, with February being the best month.

Revenue per MWh in Q1 2022 was 65% greater when compared with the same quarter last year at 22% and also higher than the 2021 quarterly standard.

The company's energy storage setups achieved excellent technical availability of 96% during the quarter, Gore Street claimed.

Additionally, revenue from Gore Street's two Northern Ireland assets exceeded forecast, particularly in February when they achieved a typical cost of ₤ 31/MW/hour, adding ₤ 2m of net revenue in February alone, towards the ₤ 4.9 m net revenue achieved in the quarter by these assets.

Outside of the UK Gore Street's newly gotten operational asset in Germany, Cremzow safeguarded an ordinary price of EUR17/MW/hour in the quarter, over forecast at acquisition, with March being the greatest month (EUR20/MW/hour).

The newly obtained three United States functional assets in the ERCOT market in Texas produced net revenue within their budgeted range, averaging $18/MW/hour in the month of March, following their acquisition in very early March.

Gore Street mentioned the new financial year has actually begun well throughout the company's asset base.

In GB in April, National Grid launched an auction for a new service called Dynamic Moderation, in which Gore Street successfully got involved.

Dynamic Moderation belongs to a suite of services aimed at changing Fast Frequency Response in the near future.