Gore Street Energy Storage Share Discussion Threads

[bothdavis] 12/10/2021 11:36

Halifax Sharedealing service very good to....received yesterday....reinvested yesterday!!

[gateside] 12/10/2021 10:47

Got my dividend on Friday and it was automatically reinvested today.Interactive Investor are excellent.

[bbonsall] 12/10/2021 10:24

Haven’t got the dividend yet?

[1tommyt] 11/10/2021 08:39

https://www.google.co.uk/amp/s/www.standard.co.uk/business/harmony-energy-income-trust-tesla-pod-point-edf-energy-electric-vehicles-london-b959785.html%3famp

[cocopah] 07/10/2021 17:00

Well, that was a quick rise! The share price only briefly hit 1.07 for an hour or so although it was at 1.08 for a few days. I was expecting a more muted response but it’s good to see the share price back up at 1:13-ish again in less than a week (given that the new shares only hit the market on the 4th of October). No trading update, so I’ll take the share price bounce as confidence that this will be another good quarter amidst the energy crisis. A good place to be!👍🏻;

[markie7] 06/10/2021 09:39

Am pleased to be in here pretty heavily over the last couple of days. Look forward to watching progress and collecting the dividend. Got to be a great 10 year play

[18bt] 01/10/2021 10:48

Yes, beginning to think PB is a waste of time as you just end up with small holdings unless you want to tie up lots of cash

[spectoacc] 30/9/2021 15:02

Got all of 2/5ths of allocation here, but the PrimaryBid allocation was small as per usual.

[cocopah] 30/9/2021 08:53

Now that we know there will be c345,000,000 shares in circulation, at a divi of 7p/share. we need net income of £24.15m to service the divi. Last year net income was £14.6m … roll-on an update, 18th Dec is a little far off!😂

[cocopah] 30/9/2021 08:28

The 1.09 held impressively but I was confident 1.07 was in sight. 1.08 now so I hope people didn’t waste time/money with PB! Long-term holder here and think it’s more important to get a trading update in the middle of an energy crisis. 🤷‍a94;️🤔

[mirandaj] 25/9/2021 13:56

Various companies mentioned including Gore Street Energy Storage Fund:

"Funds that can weather the energy crisis"

[spectoacc] 24/9/2021 08:19

Hard to say - Retail clearly keen, but insts taking their time. The RNS seems designed to try to hurry them along.

[scruff1] 24/9/2021 08:08

Looks pretty much stuck at 109 til the placing out of the way. Unlikely to close further towards the 107 I would have thought

[boonkoh] 24/9/2021 08:04

Looks like strong demand from retail investors via PrimaryBid, but the institutional bookbuild is still ongoing...

[cocopah] 22/9/2021 22:33

Pretty confident investors will be able to buy in the market at the Primary Bid offer (so save your money and buy direct into your ISA as the share price falls). The bigger question is whether buying is a good idea … for that a trading update is required! 😂🤔

[gopher] 22/9/2021 13:25

Now trading at 109.2 to buy which is just above the primary bid offer price. It a shame that rules aren't changed to make the offer directly chargeable to isa funds

[lageraemia] 22/9/2021 11:07

It would be interesting to hear what effect the current electricity and power market conditions are having on the GSF business model.

I suspect that dynamic response and tolling are in high demand because the grid is running without a generating surplus due to high gas prices, low wind production and having to start up a coal fired station for baseload.

A trading update would be interesting

[cocopah] 20/9/2021 15:45

They called it the mid-market price on the day which of course is nonsense (but it is what it is!). On the positive side DC (dynamic containment) is only one of the 7 (I think) income streams (albeit about 27% of revenues). FFR (Firm Frequency Response) is the other big hitting income stream accounting for 57% of revenues. I don’t know how many of the income streams attract subsidies or what the IRRs are for each. I do think the management team could be more open and communicative (it’s a pity that their Twitter account has not been used since 2018!). As I said earlier it would be positive (if not plain fair) for investors to know how the current energy squeeze is impacting revenues. Of course this could be positive, negative or no impact at all with offsetting dynamics at play. 🤷‍a94;️

[bluntnib] 20/9/2021 14:51

Just to add Boonkoh - I've now read the Shore Capital broker note which states that Gore Street's own estimates "assume that DC prices reduce substantially" in the next two quarters. It's slightly opaque but I take that as Gore Street being conservative in its forecasts, rather than as a portent of doom. Shore Capital is overall bullish and predicts a 7% yield and double digit NAV total returns.

[bluntnib] 20/9/2021 14:31

Thanks Boonkoh - will look into that. I'd very interested in anyone's thoughts on the 4% price spike on Friday which was the result of single uncrossing trade in the after hours auction. It wouldn't matter, except Gore Street have used that price - 116p - to promote the fundraising at a 7% discount when in reality it's more like 3%.

[boonkoh] 20/9/2021 14:17

Dynamic Containment revenues are 27% of portfolio revenues for the FY21. Likely to be higher as only started Oct20.They benefited from limited competition and got the maximum tariff available.Shore Capital broker note recently said they're expecting a big drop off in revenues from Oct/Nov. Didn't say why. But thinking either National Grid is lowering max rates. Or more competition coming in.So I'd be expecting a big hit to DC revenues. Let's assume it is 30% of total revs (low estimate). And rates go down by 50%. Plausible as it was a max rate. That's an overall portfolio reduction of revenues of 15%. Ouch. Twice of the dividend.Its so clear too see that Gore Street doesn't want to give a TU with fundraising because otherwise would have to disclose something like this. Instead they're maximising their fundraising mandate, issuing max shares they can without an AGM, before the wobbles start.

[cocopah] 20/9/2021 14:00

I was caught out elsewhere and paid over the odds on a capital raise for this type of investment, so last time GSF did this (look back and see) I waited and it was possible to buy-in just below the Primary Bid offer. Save yourself some money and hassle and just buy-in direct to your ISA at c£1.05-£1.07 (IMHO) when the opportunity presents itself in October. Don't forget that more shares requires more income to service the dividend at the current level too. On a separate note, I am more than interested in GSFs current income (so far no update) and whether the recent energy squeeze is having/will have any impact on the current revenue streams. DYOR of course.

[bluntnib] 20/9/2021 10:45

Markets overall will be volatile in next few days - especially if Chinese housing market implodes - so you might get lucky with a limit order at 107. Doubt it tho