Actualización de negociación AGM
18 de abril de 2024
Harmony Energy Income Trust plc
(la "Compañía" o "HEIT")
Actualización de negociación AGM
Harmony Energy Income Trust plc, que invierte en un sistema de almacenamiento de energía en baterías ("BES") assets in Great Britain, will hold its Annual General Meeting at 10.00 am today at the offices of Berenberg at 60 Threadneedle Street, London, EC2R 8HP. At the meeting, the Investment Adviser will provide a high-level portfolio and operational update for the 11 week period ended 15 April 2024.
Portfolio & Operational update for the period 15 April 2024
· On 11 March 2024 National Grid ESO launched the Balancing Reserve ancillary service.
· At the same time, National Grid ESO also amended the "15 minute rule" - a key constraint which had restricted the duration of actions awarded to BESS projects in the Balancing Mechanism.
· The Investment Adviser previously indicated that these two events would increase opportunities for BESS in the Balancing Mechanism. Indeed, volumes (in MWh) captured by the Company's portfolio from Balancing Mechanism activities have grown by 313% (January versus March), and the proportion of the Company's monthly revenue derived from Balancing Mechanism has increased from 15% (January) to 34% (April month-to-date).
· In addition to the above, we have also witnessed increasing wholesale market spreads caused by high penetration of wind generation in Great Britain during periods of low demand. This leads to low wholesale market pricing (and even periods of negative pricing) during which BESS has opportunity to be remunerated for importing power and subsequently selling at higher prices.
· As previously communicated, growing revenue opportunity in the Balancing Mechanism and/or wholesale markets is advantageous to 2-hour duration BESS, as both markets are priced in £/MWh, rather than £/MW.
· Like-for-like revenue (including Capacity Market revenue) has improved by c.58% from c.£45,500/MW/Year (January full month) to c.£72,000/MW/Year (April month-to-date):
Mes | Like-for-Like Portfolio Revenue (unaudited and rounded to nearest £100/MW/yr) |
2024 de enero | £45,500/MW/Year |
Febrero 2024 | £45,600/MW/Year |
Marzo 2024 | £59,400/MW/Year |
Abril de 2024 (month-to-date) | £72,000/MW/Year |
· In addition to the above, the Company has recognised additional revenue during February 2024 relating to:
o the Embedded Export Tariff ("EET") being accounted for in February. The EET is retrospectively awarded to generating assets in certain zones (in the Midlands and South of Great Britain) which exported power during the three half-hourly periods of highest demand during the winter months (November-February inclusive); and
o adjustments to prior periods to account for reconciliations of revenue from Elexon and Tesla (in their role as revenue optimiser).
Taking into account these adjustments, the total revenue for February 2024 was £80,800/MW/Year.
The Company will publish further commentary (as well as further updates on the portfolio and an update on its strategy in relation to dividends and other methods of delivering value to Shareholders) in its next quarterly trading and net asset value (as at 30 April 2024) update before the end of May 2024. Until such time, the dividend policy remains as set out in the recent Annual Report and Accounts.
FIN
Armonía Energy Advisors Limited max slade Pedro Kavanagh james ritchie
| |
Berenberg Ben Wright Dan Gee-Invocaciones
| 44 0 20 3207 7800 |
Stifel Nicolaus Europa limitada Mark Young Edward Gibson Watt Rajpal Padam madison kominski
| 44 0 20 7710 7600 |
Camarco georgia edmonds
| 44 0 20 3757 4980 |
JTC (Reino Unido) Limited
| 44 0 20 3832 3877 |
LEI: 254900O3XI3CJNTKR453
Acerca de Harmony Energy Advisors Limited (el "Asesor de Inversiones")
El Asesor de Inversiones es una subsidiaria de propiedad total de Harmony Energy Limited.
El equipo directivo del Asesor de Inversiones se ha centrado exclusivamente en el sector del almacenamiento de energía (a través de múltiples proyectos) en Gran Bretaña durante más de siete años, tanto desde el punto de vista del propietario/desarrollador de activos como en calidad de asesoramiento externo. El Asesor de Inversiones es un representante designado de Laven Advisors LLP, que está autorizado y regulado por la Autoridad de Conducta Financiera.
Información importante
Este anuncio no constituye una oferta de venta o la solicitud de una oferta para adquirir o suscribir acciones de la Compañía en cualquier jurisdicción. La distribución de este anuncio fuera del Reino Unido puede estar restringida por ley. La Compañía no ha tomado ninguna medida que permita la posesión de este anuncio en ninguna jurisdicción fuera del Reino Unido donde se requiera una acción para tal fin. Las personas fuera del Reino Unido que estén en posesión de este anuncio deben informarse sobre la distribución de este anuncio en su jurisdicción particular.
Este anuncio contiene (o puede contener) ciertas declaraciones prospectivas con respecto a algunos de los planes de la Compañía y/o los planes de una o más de sus empresas participadas y sus respectivas metas y expectativas actuales relacionadas con su respectiva condición financiera y desempeño futuros. y que implican una serie de riesgos e incertidumbres. Los rendimientos objetivo de la Compañía son solo un objetivo y no hay garantía de que se logren. Esta Compañía advierte a los lectores que ninguna declaración prospectiva es una garantía de rendimiento futuro y que los resultados reales pueden diferir materialmente de los contenidos en las declaraciones prospectivas.
It should also be noted that any future NAV per Ordinary Share announced by the Company in due course will, in addition to the matters described in this announcement, also be affected by valuation movements in the Company's Portfolio and other factors including, without limitation, purchase prices of battery energy storage systems and components, project development and construction costs, income and pricing from contracts with National Grid ESO and other counterparties, the potential for trading profitability in the wholesale electricity markets and/or Balancing Mechanism, performance of the Company's investments, and the availability of projects which meet the Company's minimum return parameters in accordance with the Company's investment policy .
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