Gresham House Energy Storage (GRID) shares have surged more than 10% so far today after the trust reported improving revenues for its battery energy storage systems (BESS) portfolio in March.
In a trading update today (24 April), GRID said average revenues of its fully operational BESS portfolio, excluding assets in commissioning or downtime associated with duration extensions, were £52,600/MW/year in March and £77,900/MW/year in the first 15 days of April. This compares to £43,000/MW/year in January and £39,000/MW/year in February, with improving revenues in recent weeks reflecting the combination of increased dispatch rates for batteries in the Balancing Mechanism and the launch of the Balancing Reserve. Gresham House Energy Storage suspends dividends and further buyback...
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