p> Gore Street Energy Storage Fund plc has announced that the energisation process of the Stony asset in Milton Keynes, the UK, with a capacity of 79.9 MW, has been scheduled with National Grid ESO to begin on 31 July 2023. 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 371.5 MW.
Based on data provided by Modo Energy, the company's UK assets generated an average revenue of £7.62/MWh for the six-month period from January – June 2023. This compares favourably to the UK average for a one-hour system, which was reported to be £6.83/MWh during the same period. Two-hour systems were reported to have generated, on average, just 7.6% more per MW than the Company's average during this period.
Given the material increased capex required to build the additional duration, this supports the company's view of optimal duration in this market.