Gaelectric Energy Storage

22nd November 2013

Future European Perspective for Compressed Air Energy Storage (CAES)

Keith McGrane

Society Power

High Renewables

Energy

Reserves

~5% 10+%

Renewables Integration

Reserves

Wind output falls

50% Technical limit

Penetration Ramps

Curtailment

Illustrating the Business Case

Value is the economic efficiency of flexible reserves

Typical week

Night-Time Wind Day-Time Wind

Not only Ireland

• Britain – imposed its own 50% technical limit

• Germany – greater number of stop-starts, reducing reserve availability levels, curtailment

• Spain – curtailment, severe morning ramping, cycling

• Italy – reduction of 25-30% reserve levels over the past 4-years

How to lose half a trillion euros

Europe’s electricity providers face an existential threat

World PH (x1000MW)

120

100

80

60

40

20

Year

1960 1970 1980 1990 2000

World Nuclear

(x1000MW)

350

300

250

200

150

100

50

Nuclear

PH

Oil Crisis CAES 1978

2010

We Have Been Here Before

Video Insert

Larne CAES Project – Leading the way

Ballylumford, Moyle I/C, SNIP

Larne 268MW Project • Numerous flexible reserve services • Drilling in progress to provide data for final cavern design

Planning submission Q2 2014 Financial Close 2015 Operations 2017

13 Artist impression

Value Proposition