Interesting that when the government pulled the subsidy plug and Infinis dropped .. and dropped .. and dropped a bunch of people harped on about manipulation as (one of the reasons) Drax had bounced significantly back. Well I note that Drax has settled back slowly and sits approx 35% below its drop point and Infinis about 38% (depends on what number you used)... not much difference really.
SP keeps testing levels and has the feel of a slow recovery about it. I expect it to steadily rise over time
Yes they will park a lot of the new wind farms in scotland as they side with them better goverment ..
Amber Rudd who voted scrap this subs, will go to scotland invited to change her mind see the effects wind farms have on health ben e fits .. and see its a good source of future power. I suggest if we all park our shares this side of england infinis support !!
Doc the RO is being scrapped a year early unless you qualify for grace periods. They have said no wind in England whilst they are in power although yes they might allow Scotland under some (much lower) CfD. Embedded value of Infinis is probably 160-180p so its a bit undervalued.
Infinis Energy plc and Drax Group plc have today initiated proceedings for a judicial review of the notice period given by HM Treasury when removing the exemption from the Climate Change Levy (CCL) for electricity generated from renewable sources. The basis of this review is that the exemption was removed without the application of an appropriate notice period, as the notice given was only 24 days.
The companies ask the court to consider a reasonable and proportionate notice period for withdrawal of such renewable support.
What u guys want to know about infinis Parkside13 what u want to know about infinis ?
I do know 2017 expand the wind farm side of the bussiness more wind in the park . up north scotland. Some or all of the wind progect should be under the Ro subs. Also amber rudd will still support the wind farms being built until 2016, and she has been invited to scotland to see if she support wind farms past 2016 subs
Infinis said day ahead pricing and operating costs were in line with expectations, and said its operational performance meant it would meet management expectations for the full year.
The company has already said the removal of climate change subsidies would reduce its earnings in the current financial year by £7.5m.
Landfill gas output was down by 6%, which the company said was due to a combination of the natural decline in landfill gas, drier weather conditions and planned full grid outages at two of our larger sites initiated by the local network operators which lasted for 11 days.
The company's onshore wind business exported 152 GWh in the three months to 30 June 2015, which was an increase of 46% from the same period last year.
The reason why this is dropping is several fold. Firstly, the RO support is being cut a year early. Secondly, the project finance market has closed until the legislation is passed by Parliament which will be next year. That may mean a lot of RO projects fail to get built. Possibly some of Infinis's. Thirdly, the have cut the LEC which provided around £8-10m of income for Infinis's wind and LFG assets. Fourthly, the Terra overhand. Fifthly, it was overvalued in the first place. Sixthly, this Government clearly hates renewables so there is the "what will they do next" discount. Seventh, are Infinis's tight leverage ratios ok? Eighth, what will the dividend be? Ninth, the Gov has just announced another assault on renewables today by proposing to cut solar and wind FiT subsidies. There are a few more but those are the main ones. Intrinsic value wise this is now cheap. Will it go up in the short term? Absent some exogenous factor, no!! But the equity is cheap.
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