Gresham House Energy Storage fund (GRID) has posted a decline to its net asset value per share of nearly 10% to 109.16p for the first half of 2024.
In its trading update published today (9 September), the energy storage trust said the 19.91p fall was mostly caused by "third-party revenue forecasts", which contributed 19.47p of the total decline, due to the introduction of a "new, more conservative curve provider". GRID noted the fund generated net revenues of £17.9m over the six-month period, although 14.5% lower than the £20.5m generated in the first half of 2023. This, it explained, was caused by an "especially weak" first quarter of 2024, but revenues recovered and stabilised in Q3, although "at a level lower than expected over t...
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