Tolls are Trending, Merchant is Waning: Structuring Bankable Deals in 2026
Time: 14:15 - 14:55
Date: 24/02/2026
Synopsis
- What is driving the move toward tolling and hybrid structures, and why has confidence in pure merchant exposure cooled?
- Revenue frameworks that capital providers now view as bankable for multi-hour storage
- How tolling structures distribute risk and stabilise cashflows for investors
- Why tolls have become a standout route-to-market in 2026, and how this differs from earlier cycles
- What emerging tolling providers bring to the table that fixed-price or merchant-only contracts cannot deliver
Moderator
Louise Dalton Partner - CMS
Speaker
Jacob Lloyd Managing Director, Specialist Asset & Battery Storage Finance - NatWest
Mark Meyrick General Manager - Smart Grid (Powered by Ecotricity)
Isabel Rodriguez de Rivera Managing Director - Nuveen Infrastructure
Loic Bonifacie Head of Origination, Western Europe - BKW AG
Maayan As Director of Energy Trading & Revenue Management - Nofar Energy
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