Gore Street Energy Storage Fund is set to begin the energisation process of its 79.9MW Stony battery in Milton Keynes. Energisation has been scheduled with NGESO to begin on 31 July. The process is expected to take up to two weeks to complete. Once operational, the asset will bring the Company’s total operational portfolio to 371.5MW.
The company said its two-hour assets generated an average revenue of £7.62/MW/hr for the six months to end June 2023, whereas the GB average for a one-hour system was reported to be £6.83/MW/hr . The company said the GB market faces increased saturation and declining prices.
In other markets the winter (January to March) saw the company’s operational Northern Irish assets, Drumkee and Mullavilly, achieiving an average revenue of £24.60/MW/hr across the quarter. Revenues declined as weather conditions stabilised.
In the USA, heatwaves in Texas resulted in a surge in revenues as power prices spiked; as a result, the Gore Street’s assets generated an estimated hourly average of $175/ MW/hr on 18-21 June.