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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gresham House Energy Storage Fund Plc | LSE:GRID | London | Ordinary Share | GB00BFX3K770 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 56.00 | 20,152 | 08:37:29 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 55.70 | 57.00 | ||||
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Trust,ex Ed,religious,charty | 225.44M | 217.14M | 5.6732 | 0.10 | 21.43M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 08:58:35 | O | 35 | 56.701 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 30/4/2024 | 16:01 | UK RNS | Gresham House Energy Storage Fund Total Voting Rights |
| 29/4/2024 | 16:14 | ALNC |  EARNINGS: One Media IP Group annual profit down but asset value steady |
| 29/4/2024 | 07:00 | UK RNS | Gresham House Energy Storage Fund Full-Year Results to 31 December 2023 |
| 25/4/2024 | 11:28 | UK RNS | Gresham House Energy Storage Fund Disclosure of New Directorship |
| 24/4/2024 | 20:10 | ALNC | TRADING UPDATES: Pennant trading in line; Coro requests suspension |
| 24/4/2024 | 07:00 | UK RNS | Gresham House Energy Storage Fund BESS portfolio revenue update |
| 24/4/2024 | 07:00 | UK RNS | Gresham House Energy Storage Fund Notice of Full-Year 2023 Results |
| 19/4/2024 | 10:12 | ALNC | Gresham House Energy warns of revenue hit amid challenging environment |
| 18/4/2024 | 13:57 | UK RNS | Gresham House Energy Storage Fund Trading Update |
| 17/4/2024 | 17:11 | UK RNS | Gresham House Energy Storage Fund Transaction in Own Shares |
Gresham House Energy Sto... (GRID) Share Charts1 Year Gresham House Energy Sto... Chart |
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1 Month Gresham House Energy Sto... Chart |
Intraday Gresham House Energy Sto... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 30/4/2024 | 18:54 | GRESHAM HOUSE ENERGY STORAGE FUND PLC (GRID) | 853 |
| 12/7/2022 | 11:00 | GRID Takeover | - |
| 30/4/2021 | 23:07 | GRID scaling up | 1 |
| 27/1/2003 | 21:58 | GRIDIRON - The greatest game on earth! | 24 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 07:58:35 | 56.70 | 35 | 19.85 | O |
| 07:37:23 | 56.88 | 17,582 | 10,001.34 | O |
| 07:23:57 | 56.71 | 2,000 | 1,134.26 | O |
| 07:17:01 | 56.84 | 23 | 13.07 | O |
| 07:04:54 | 56.87 | 421 | 239.42 | O |
| Top Posts |
|---|
Posted at 02/5/2024 09:20 by Gresham House Energy Sto... Daily Update Gresham House Energy Storage Fund Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker GRID. The last closing price for Gresham House Energy Sto... was 56p.Gresham House Energy Sto... currently has 38,273,996 shares in issue. The market capitalisation of Gresham House Energy Sto... is £21,433,438. Gresham House Energy Sto... has a price to earnings ratio (PE ratio) of 0.10. This morning GRID shares opened at - |
Posted at 30/4/2024 18:08 by marktime1231 It would have been astute of GRID if a year or two ago they had prioritised extending durations of existing assets when already faced with connection delays and whatever on new assets, instead of fund raising for grand new schemes while still presenting a healthy income outlook. Astute is not the right word for doing something obvious and too late to prevent income drying up in the meantime.Thanks for your feedback but I will wait for the hard facts of the q & a ... were they challenged on what is the breakeven or dividend cover threshold and when it might be met, are they really disposing of assets to deleverage, how is the delivery of the 1,072MW really going given we are still a long way off with just 8 months remaining, what is the strategy to deal with a > 60% discount assuming the latest NAV figure is realistic, how sensitive is that NAV assessment to the possibility that revenues stay stuck around the current level, are future management fees going to reflect the collapse in shareholder value ... rather than be swayed by feelings based on how assured the architect of our downfall came across. Maybe he wasn't needled hard enough. I would be particularly keen to hear how GRID are now going to keep us transparently informed of trading with detail on revenue and net income, something else which would have been astute when advised to do so yonks ago. There is an asset trading case for remaining interested in GRID, for example if you anticipate positive movement in the share price as things become prospectively less awful, but the most simple (some would say only) rationale for any long term investment is that it rewards you with returns eg income. But as you say it is horses for courses. |
Posted at 29/4/2024 09:29 by cruelladeville Hmmm, the share price gap between GRID and GSF has almost gone. Anyone else here wondering about selling GRID to buy Gore Street Energy? |
Posted at 24/4/2024 10:21 by dickiehh Thanks Nickrl - the communications seems a bit of a shambles though - which is also why the share price is so volatile. After last week's vague update, the share price goes down by 10 percent on Thursday (at one point) before recovering a little. Now it's up 20 percent this week, based on the same information except this time they bothered to put it in an RNS. As you say, a monthly update is needed with full transparency on what's going on |
Posted at 16/4/2024 07:28 by cc2014 A bit of fun.GRID are buying back shares to the value of not more than the cut dividend. So, on say around 573.4m shares they started with before the buyback this is £42.15m a year to spend on buybacks. This would buyback 100m shares at 102m shares a year at 41p a share. Therefore by some Douglas Adams style of logic where I ignore that the buyback will force up the share price, if I do not sell my shares I will own 100% of GRID in about 5.5 years and collect the whole juicy dividend of £42m for myself |
Posted at 15/4/2024 20:54 by cc2014 A couple of points.The BESS index does not include capacity market contracts so that's additional revenue to add. I do not have time to go through them all but Thurcroft is an extra 7.1% revenue, Couper Angus an extra 20%, Port of Tyne is an extra 59%. All for the month to date. If you look at Port of Tyne for the last year it's an extra 70% on average. At your starting point of 740 MW GRID had 837 MWh By the end of 2024 GRID will have 1117 MW / 1817 MWh Note the doubling broad doubling of MWh as GRID are upgrading many of their batteries to 2hr, which is quick to do as it doesn't require a grid connection and will in itself bring in more revenue than just the new battery as 2 hour batteries are more attractive to the ESO. GRID say they can do this and more with no extra debt.. That kind of suggests nearly everything is built and relying on grid connections but whilst I take them at their word, I also take it with a pinch of salt. You are right about slippage. That's on on-going problem |
Posted at 15/4/2024 19:51 by marktime1231 Let's be careful reading too much in to figures in isolation. Thank you, but that linkedin chart from modo doesn't show earning rates before Q2 of 2023, at which stage operating income cover of the previous 1.75p quarterly dividend fell from x 0.97 to below x 0.5 I think. According to my looking at this back in February the dividend hasn't been covered since Q4 2022, when the average asset earning rate may well have been over £100k / MW / yr.Actually you raise an interesting point ... why haven't BESS trusts been publishing these transparent income figures so we can judge performance and outlook directly? I have been asking GRID to include them in trading and audited reports for three years, deaf ears. Actually it should be relatively straight forward to set an income breakeven benchmark. 4 x 1.8375p dividends over 569.55 million shares means GRID needs to earn £41.862M pa bottom line distributable profit. Ignore buybacks. Across 740MW of operational assets that requires £56.6K of distributable profit per MW per year to cover the current (former) dividend. So let's not cheer too loudly that gross revenues appear to have bounced back to around £50K according to modo. DISTRIBUTABLE Not revenue, not ebitda or operating income, not net income but distributable post tax profit. The margin ratios are severe ... To illustrate the difference, in FY 2022 gross revenues were £62.7M, operating income or ebitda was £48.8M, reported net income presumably after debt interest was £32.8M and bottom line profit after a further £8M or so "admin expenses" was £25.3M. Credit drawn has risen from £50M to £110M. Management admin fees have risen in line with AUM. There are too many variables to accurately calculate the revenues required to deliver £41.862M of distributable profit. For convenience lets assume x 2, which means each asset needs to earn revenues of £113.2K / MW / year to restore the dividend. Over 740MW assets. Of course if GRID energise the revised reduced target of 1,027 MW by year end the revenue run rate target reduces to £81.6K / MW / yr. Beware that GRID said in a previous trading update that should the revised reduced asset target of 1027MW be met the FY operating income would cover the dividend, not distributable profit. So £50K where revenues are now, actually not even £70K where revenues were this time last year, does not deliver. It should be pretty obvious it is not just a fall in prices scuppering GRID, it is the high debt cost, the high admin fees, but most of all the massive shortfall caused by the failure to deliver the pipeline ... just a year ago when GRID reported on FY2022 they were still outlooking 1.5GW of operational capacity through 2024. |
Posted at 11/4/2024 23:27 by marktime1231 Thanks very much for that link, nice to know what RBC see in GRID. A speculative risk, the target price 75p half of the share price just a year ago. Worth a gamble largely based on the notion there is better cashflow ahead but without really knowing how much. GSF a safer bet because of its diverse markets and already closer to their 85p target price which is more plausible.Well I remain ready to speculate in the dark at the right price, or in the light of facts if and when they are made available. Not yet. You would think the board would be remortgaging their houses to load up if there was the prospect of news on the way likely to send the share price back to the 70s. |
Posted at 22/2/2024 17:18 by marktime1231 From studying the ESO spreadsheet it seems GRID submitted around a dozen of its smaller BESS in to the T-1 Capacity Market auction, it will be up to management to tell us which were successful and what the financial impact will be. HEIT observed that the price struck was 40% lower than last year but higher than expected. The big winners appear to be larger longer duration BESS including new installations.My conclusion is that this is neither here nor there for GRID, if it had been a windfall bonus we would have heard already because they are so desperate for good news. Notably HEIT have renegotiated their group financing with a modest reduction in near term rate, presumably to help get them through the income slump. It remains to be seen when and how the sector will restore income to justify their current valuations. I don't see what is causing the recovery in GRID share price from 50p, in the same way I couldn't see why it recovered from 80p to 110p. Hopeful optimism and "bump in the road" thinking, because you have to and ...? We should wait for solid evidence of financial performance recovery and bankable outlook, ignoring fanciful asset valuation, before concluding this has been oversold. |
Posted at 05/2/2024 17:56 by nickrl James Carthew on a moan that current share price fall is down to the ESOhxxps://citywire.com Not sure the blame game against the ESO will help the situation both BESS and the ESO are now dependant on each other. Remember its only 12mths ago that GRID said Balancing Mechanism was a small part of the revenue stack yet now it along with wholesale trading are the key revenue drivers. The ESO recognised that BESS would be a key part of grid management as its generation mix evolves towards renewables and have a roadmap that will gradually favour BESS over CCGTs through 2024. So the ESO aren't trying to drive BESS off the system but their first priority is to keep the grid stable and for decades they've done this through big fossil fuelled power stations so we are in a period of evolution. This could be a good entry price but im holding back until there is more visibility that revenue is improving. |
Posted at 31/1/2024 13:36 by cc2014 One of the impacts of the new bulk dispatch system (which GRID said would make them more money in their last RNS) is that the number of dispatches has doubled but the volume has increased just a bit, 8% for the first week and that's all the data I have.So, instead of routing to a small number of batteries about 8% more volume is being routed to double or in some cases 4 times as many batteries. My guess, because I don't have any detail on the information is that under the old system the volume was routed (through a manual process) to the batteries that had been around the longest (and that was GRID as first mover. Now, I suggest some of the volume that was being routed to GRID is now being routed elsewhere with HEIT and others with newer installations being likely beneficiaries. So, perhaps the pot got bigger, but GRID's slice of it got smaller. I am kind of fitting the facts here to the share price reaction as my hypothesis whilst based on some facts could do with more evidence. For sure though GRID is faring worst. |
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