Business
Essential Operating Services
Gore Street Energy Storage Fund PLC clarified its investment and commercial management payments to Gore Street Capital Group. The company highlighted a future reduction in the investment management fee from October 1, 2025, which, based on the average share price for the year ended March 31, 2025, would have resulted in savings of approximately £1.14 million. The management fee for FY24/25 was £5,107,713, down from £5,542,596 in FY23/24, with an additional £75,000 AIFM fee each year. Commercial Management Agreement fees totaled £5,210,509 in FY24/25, compared to £5,415,764 in FY23/24. Gore Street Energy Trading fees were £93,737 for FY24/25, with no corresponding figure for the previous year. Disclaimer*
About this update from Gore Street Energy Storage Fund Plc
[{"type":"text","content":"\n\n30 September 2025\nGore Street Energy Storage Fund plc\n(\"the Company\" or \"GSF\")\n \nEssential Operating Services\nThe Board of Directors of the Company would like to correct inaccurate and misleading claims regarding the Company's investment and commercial management payments to Gore Street Capital Group (GSC). \n \nThis summary covers both fees paid by the Company to GSC for investment management services and amounts paid by the Company and the Company's subsidiaries (SPVs) to GSC for commercial management services. The agreements are regularly assessed to ensure that they represent value for money, both in terms of competitive pricing and quality of delivery, and furthermore, are subject to caps which are detailed below.\n \nThe operating services provided by Gore Street Capital Group have all previously been disclosed in accordance with the relevant Listing Rules and Accounting Standards and are summarised below along with amounts paid in relation to these services for the years ended 31 March 2024 and 31 March 2025.\n \nIn short:\n· Payments pursuant to the agreements have been made within or well below the contractual caps.\n \n· The Company complies with all reporting obligations which are audited by EY, the Company's external independent auditor and is confident that all disclosures were properly made, however, the Company will regularly update these going forward to ensure full transparency.\n \n· These services if not provided by GSC would be procured from other providers, and as outlined, the agreements with GSC are regularly assessed to ensure value for money.\n \nAIFM & Investment Management Agreement\nAs announced in June 2025, the Board of Directors undertook a review of fees, and agreed with Gore Street Investment Management Limited (part of Gore Street Capital Group) a substantially reduced amount payable from 1 October 2025, resulting in significant savings and better long-term alignment with shareholders.\n \nServices: Investment management and risk management.\n \nTerms: 1% per annum of the average (50:50) of market capitalisation and adjusted NAV (subject to a cap of 1% of adjusted NAV), and a flat fee of £75,000 per annum for acting as AIFM. There are no performance fees. \n \nBased ...