In QuotedData’s morning briefing 15 December 2023:
- Gresham House Energy Storage (GRID) has announced that, on 12 December 2023, the National Grid Electricity System Operator has successfully launched its new “open balancing platform” and “bulk dispatch optimiser ” and started using it to trade battery energy storage systems in the balancing mechanism. The grid’s inability to incorporate batteries into the balancing mechanism was acting as a constraint on the fund’s revenues. The company says that, while it is too early to point to the specific revenue impact, the GRID team expects it to lead to increased revenue opportunities for its assets, based on initial indications. It is looking to move GRID’s non-balancing mechanism assets into the balancing mechanism to capture the higher revenue opportunities that are now expected to be available.
- Global Smaller Companies Trust (GSCT) says that, having been involved in the management of the company for more than 26 years and lead manager since August 2005, Peter Ewins has indicated his intention to step down from his role and retire from Columbia Threadneedle Investments in June 2024. The board has been fully engaged with Columbia Threadneedle Investments in ensuring a smooth handover of Peter’s responsibilities and we are pleased to announce that Nish Patel will become joint lead fund manager, alongside Peter, with effect from 1 January 2024 and lead fund manager with effect from 1 May 2024. Nish has worked closely with Peter for a long period of time, managing assets for the company for more than 15 years.