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Licence Award; Ofgem LDES cap and floor 2nd Round
EnergyPathways PLC has been awarded a Gas Storage Licence for its MESH project, initiating a work programme that includes a site survey in Q3 2026 to gather data for environmental, geological, and seabed aspects. The MESH project, designated a project of "national significance," could support up to 60 large-scale salt storage caverns with multi terawatt-hour potential, encompassing compressed air energy storage, natural gas, and hydrogen storage. This development aligns with Ofgem's announcement of a second round for its Long Duration Energy Storage (LDES) cap and floor scheme, which EnergyPathways plans to enter its CAES project into, aiming to enhance grid resilience and reduce energy costs. Disclaimer*
About this update from Energypathways Plc
1 July 2026 EnergyPathways plc ("EnergyPathways" or the "Company") Gas Storage Licence award, launch of Licence work programme Ofgem announces plans for LDES cap and floor second round Launch of Licence work programme EnergyPathways (AIM: EPP), the UK energy transition company, is pleased to announce that, following the award of a Gas Storage Licence ("Licence") for its MESH project ("MESH" or the "MESH Project"), the Licence work programme has been launched, and a site survey is planned for Q3 2026. Formal acceptance of the North Sea Transition Authority's ("NSTA") Licence offer marks a significant milestone in advancing the MESH Project. The Company has commenced the Licence work programme and is planning an extensive survey in the East Irish Sea that will provide data to develop both the environmental, geological and seabed aspects of MESH. The survey results will underpin regulatory, engineering and subsurface workstreams as the Company progresses towards the next phase of development. The Licence spans a substantial offshore area that could support the construction of up to 60 large-scale salt storage caverns, with the potential for multi terawatt-hour scale integrated energy storage, subject to the necessary consents and financing. The planned MESH Project has been designated by the UK Government as a project of "national significance". It will comprise compressed air energy storage ("CAES"), natural gas storage transitioning to hydrogen storage and complementary hydrogen production for clean power and sustainable hydrogen industry uses. Ofgem announces plans for Long Duration Energy Storage ("LDES") cap and floor second round On 26 June 2026, Ofgem published its 'Minded to Decision' list of LDES projects under the firs...
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