EDF signs landmark long-term floor pricing agreements with Gresham House Energy Storage Fund
- Covers 737MW of battery storage, including both operations and development assets
- Agreement provides long-term revenue certainty, supporting growth of the UK’s battery storage sector
- Brings together the UK’s largest operational battery asset owner and leading Route-to-Market provider to drive value from clean energy infrastructure
EDF, Britain’s biggest generator of zero carbon electricity has entered into long-term floor pricing agreements with Gresham House Energy Storage Fund plc (GRID), the UK’s largest owner of operational battery energy storage systems (BESS).
GRID has selected EDF to optimise several of its battery assets and entered into these long-term agreements to provide enhanced revenue stability. The landmark agreement covers 737MW of BESS projects, including 100 MW currently operational and 637MW in development. It brings together two of the largest names in the sector: EDF, the UK’s leading Route-to-Market (RtM) provider, and GRID, the country’s largest operational battery asset owner and a pioneer in battery storage investment.
The agreements provide GRID with predictable income base while allowing the company to benefit from potential rises in wholesale energy market prices. Both EDF and Gresham House Energy Storage Fund share a strong belief in the critical role of BESS in optimising the UK electricity grid. EDF will optimise all sites using its proprietary Powershift platform, which delivers value across the Wholesale Market, Balancing Mechanism, and Ancillary Services, while providing the National Electricity System Operator (NESO) with vital, fast-acting reserve capacity.
EDF plays a key role in enabling the growth of large-scale energy storage in the UK by helping balance supply and demand. This supports a more efficient and resilient energy system. The collaboration with Gresham House reflects both companies’ focus on are scaling battery storage, their shared interest in long-term, value-driven partnerships, and a strong belief in the critical role of battery energy storage systems (BESS) in optimising the UK electricity grid.
Ben Guest, Fund Manager at Gresham House Energy Storage Fund, commented:
“We are delighted to announce the signing of these Floor Agreements with EDF, the UK’s largest battery optimiser, and we look forward to working closely with EDF over the life of these contracts. The floor agreements mark the completion of another key milestone for GRID, significantly improving the risk profile of the Company and fundamentally reposition GRID as a business with significant minimum contracted revenue while retaining merchant upside.”
Stuart Fenner, Wholesale Market Services, Commercial Director at EDF said:
“We’re pleased to partner with Gresham House in a new long-term agreement that supports the continued rollout of battery storage across the UK. The deal reflects the ambition, and expertise both parties bring to the energy transition. At EDF, we are committed to being a reliable partner and look forward to delivering value through our trading expertise and Balance Mechanism capabilities.”
This venture positions EDF and Gresham House at the forefront of the energy storage sector, a vital pillar of the UK’s Net Zero future. It also exemplifies how market-leading scale, trusted partnerships, and complementary competencies are critical for success in today’s dynamic energy landscape.
