Gore Street Energy Storage Share Discussion Threads

[waterloo01] 10/4/2024 15:35

The BESS industry is looking at ways to leverage the 45X tax credit for domestic cell manufacturing in the US, with the domestic content investment tax credit (ITC) bonus still unclear.

That was according to delegates interviewed at Solar Media’s Energy Storage Summit (ESS) USA 2024 last month when discussing the Inflation Reduction Act’s (IRA) numerous incentives that are relevant for energy storage – a market that is booming in the US.

[scruff1] 10/4/2024 12:12

Yep. Maybe the selling has stopped. Was expecting a shareholding RNS this week. We do seem to have had a few days of trickling upwards which is not what we have been used to. Still very tenuous

[panshanger1] 10/4/2024 10:00

Maybe seen the bottom here Next update very important

[scruff1] 10/4/2024 08:26

But they havent issued the latest trading update yet and the last one wouldnt have covered March. Trouble is the revenue figure given is across all assets

[cocopah] 09/4/2024 21:20

#scruff1 I’m sure when they had increased income last year, they communicated it. Not sure whether it was by RNS but I don’t think so.

[scruff1] 09/4/2024 19:27

Bit optimistic coco expecting an RNS for that. What would you expect em to say>
?

[cocopah] 09/4/2024 16:41

A 45% rise in monthly trading revenues has raised hopes of a recovery in the three energy storage funds after their devastating first-quarter sell-off.

“Shares in Gresham House Energy Storage (GRID), which had plunged to a discount of more than 70% after cutting its dividend, yesterday jumped nearly 7%, while Harmony Energy Income (HEIT) and Gore Street Energy Storage (GSF) rose over more than 2% after data from Modo Energy showed revenues from battery energy storage systems (Bess) in England, Scotland and Wales leapt from £23,000 per megawatt per year in February to £32,000 per MW per year in March.”

The above is from a Citywire article this morning … nothing, zilch, nada from #GSF on this though. A great opportunity to control the narrative missed yet again! 🫣

[marksp2011] 07/4/2024 19:42

You might be right.My biggest invididual holding is JGGI which I have had for 7 years or so. I only have sub 1% in this but it still annoys me. I don't like losing money.When I look at the total returns I do have some great winners but renewables generally aren't amongst them Re US, I sold half my S&p 500 market cap weighted and bought an equal weight instead. it has done ok

[spectoacc] 06/4/2024 15:48

Valid points, but perhaps looking in rear-view mirror.

Is the US in a bubble or not? I'd say yes - just how many trillion dollar co's can they have? Sure, NVID is coining it, on huge margins, but $2.3trn?? They make tens of billions in profit.

So - starting from the bubble point, the S&P at (just off) all-time highs, the huge returns over recent years - consider that a global equity tracker is something like 60% USA.

You mention GGRP as an alternative to the global tracker. It has MSFT, Apple, and J&J as its top 3. All good co's, but again - MSFT £3.1trn market cap, Apple $2.6trn, J&J $371bn.

Not saying any of these are bad co's - I'm quibbling valuation/bubbles/whether the recent years of huge outperformance extrapolates into the distant future for US stocks.

Meanwhile, LGEN looks pretty cheap to me, GSF definitely, and I'd rather buy cheap than dear.

Caveat - am in GSF from slightly higher (but at least have had the divi!).

UK has been dire for so long, but to my mind that's the market to buy, just as Japan was (but, admittedly, Russia wasn't).

It's a fair point about many of the giant divi payers often seeming to fall by a similar amount to the divi - got to pick the wheat from the chaff, and try to avoid the dross (I'd put HEIT in that category for eg).

[marksp2011] 06/4/2024 15:36

A global quality tracker looks so much better than this.
The "quality" theme beats a standard global by about 3% a year. I am getting less and less interested in dividends

Whats the point of an 8% dividend and a 10% capital loss?

LGEN total return over 5 yeards 3.59% pa
GGRP 12.59% pa over 5 years
GSF 0.39% PA

I really wonder why I keep buying the wrong things to drag down my overall performance

[scruff1] 05/4/2024 18:13

This loser hasnt sold. But hes been sorely tempted :-)

[waterloo01] 05/4/2024 17:24

Onwards to the new tax year. Hopefully some of the selling has been for the loses.

[scruff1] 05/4/2024 12:43

Not often this goes against the flow.

[waterloo01] 04/4/2024 16:58

Also odd in the face of increasing oil costs.

[spectoacc] 04/4/2024 14:52

@panshanger1 - spot on.

[scruff1] 04/4/2024 14:10

Rathbones must have dumped well over 1m since last month. Should get an RNS soon - maybe next week.

[cwa1] 04/4/2024 14:00

Tempted in to the shark infested waters here with a purchase of a few at 60'ish pence. I'd have to concede it doesn't look a happy bunny though...

[scruff1] 04/4/2024 13:06

Just returned from Dubai yesterday. The flight was quite turbulent - but nowt like tis one

[scruff1] 04/4/2024 13:05

waterloo - great response. Love it.
Looking at the trades today (fwiw) its looking like some pretty hefty selling. Would be nice if they get it out of their system

[waterloo01] 04/4/2024 13:01

or, there's nothing wrong with the plane, turbulence aside. End result everyone survives, apart from the chap who decided to jump who's fate is as yet unknown!

[scruff1] 04/4/2024 12:56

Its a bit like being on an aircraft hurtling towards earth. Much below 1000ft and you can use a parachute, jump without or stay on board - the result will be the same.