Gore Street Energy Storage Fund is the latest to begin participating in National Grid ESO’s Dynamic Containment service.
It is aiming to have most of its operational portfolio of over 90MW participating from 1 April 2021, pointing to how the average price of £17/MW/h – well above that of £6.5/MW/h for Fast Frequency Response – could provide the company with a “significant uplift in revenue”.
Gore Street also pointed to how National Grid ESO permitted stacking of Dynamic Containment services with Balancing Mechanism participation in January 2021, enabling energy storage operators to optimise revenue strategy by unlocking additional value. It continued to state the Dynamic Containment service will further optimise “the increasingly important issue of balancing grid supply and demand”.
“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,” Alex O’Cinneide, CEO of Gore Street Capital, said
“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.”
Last month, Gore Street partnered with Arenko – which is also trading in Dynamic Containment – for the optimisation of its 10MW battery.
Arenko, meanwhile, became the first provider to qualify a non-Balancing Mechanism Unit (BMU) while complying with Dynamic Containment’s requirement for real time monitoring in the same month.
