StockMarketWire.com - Energy storage fund Gore Street Energy Storage Fund announced record revenues for two assets in its GB portfolio in the third week of September following a jump in energy prices.

Dynamic containment and balancing mechanism are two of the main revenue streams that make up the company's revenue stacking strategy.

Whilst DC is one of the national grid's frequency response services designed to be fast-acting after a significant frequency deviation, BM is the platform used by national grid to buy and sell electricity from market participants to manage system constraints and the overall energy balance in real time.

Prices in the UK balancing mechanism hit a record high of £4,038/MWh in early September. Similar trends were observed in the Irish market, where September imbalance prices reached €4,680/MWh during evening peaks.

'With increased pricing and volatility, several of the company's storage projects began trading in the GB markets, with the result that the two assets' attained revenue at two times more than they were forecast to earn in the week, had they relied on DC revenues,' the company said.

'Increasing price levels are expected to continue through October and beyond, driven by rising natural gas prices, limited gas storage capacity, low wind conditions, colder temperatures and increasing demand as winter approaches and economies recover,' it added.


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