Member Info for hardup

Ashershares..........."a somewhat reasonable expectation (ha and just watch the quarterly update prove me wrong) could be +7-10p on NAV (161 to 164p)"

Not sure how you arrive at 161 to 164p NAV with an increase of +7-10p? Latest NAV on 29th January was 133.5p, so +7-10p on NAV would take it up to 140.5 to 143.5p.

Today renewables are currently supplying 85% of electricity generated with wind at 66%.

https://grid.iamkate.com/

Wind energy across Great Britain hit a new record on Wednesday, producing enough electricity for more than 23 million homes across the country.

Solar and wind also combined to squeeze more expensive gas-fired generation to just 2.3% of the power mix, figures from the National Energy System Operator (Neso) show.

https://news.stv.tv/scotland/wind-power-hits-new-record-as-gas-squeezed-to-tiny-share-of-generation

Monday 27th April next quarterly NAV update and dividend amount.

Renewables have resulted in significantly lower electricity prices already through the current marginal cost pricing model. Electricity prices would be a lot higher than they currently are now without renewables.

https://ca1-eci.edcdn.com/Marginal-Pricing-ECIU-report-Oct-2025-Final.pdf?v=1759847236

@PaulCurtis........can you post a link to the broker note that you refer to that is "estimating that spot prices will yield an additional £90m this year".

Market surges on Trump statement and UKW drops?

OldManHeats..........."When will buybacks resume? Nothing since 17th of Feb. Feels like missing out on a great return on capital"

Refer to the post I made on 13th March 2026 at 11:15

Panda100 aka bunsenburner123?

I also think investors are still cautious on whether they can trust the Government not to renege on any further previous agreements after the Government changed the goalposts from RPI to CPI.

Https://www.ii.co.uk/analysis-commentary/stockwatch-why-i-these-two-renewable-infrastructure-funds-ii538403

It looks like the immediate priority going forward will to use excess capital to reduce debt before any further buybacks are contemplated . The last share buyback completed on the 16th February. This morning I sent an email to John Musk and asked if there would be another buyback commencing soon, and if so, how much would be allocated to it? His reply was........

"In our recent results presentation we made it clear that buybacks remain part of the capital allocation toolkit for the current year.

However the immediate short-term focus is to reduce borrowings so that we get back to sub 40% leverage, which in turns gives us more optionality for the business moving forward. Any future buybacks will however also need to be balanced against reinvestment into the portfolio to deliver longer term growth in NAV. The point being, we can’t continue to shrink the business for ever if we want an evergreen product capable of delivering both long term growth in NAV and a CPI linked dividend."

I see Newton Investment Management notified they crossed the 5% threshold with a purchase on 9th March. They now own 5.42% or 116,883,982 UKW shares.

Sparz, even after cutting the dividend, if you invest in NESF today you will still get a dividend yield of around 8% - 9%.

"The FSCS protection limit (investments) is £85k , so I was looking to spread my pot across more accounts."

As from 1st December 2025 the FSCS protection limit was raised to £120k per account.

"The sector was hit heavily after 2.30pm yesterday .... US hedge funds if you ask me."

Or maybe a kneejerk reaction attributable to Trump repealing the Clean Air Act yesterday?

Encouraging to see SP recovering some of the x-div drop, currently around 97p.

Wrong board.

NAV amended to 133.5p.

Target dividend for 2026 now confirmed 10.7p.

"The principal instrument from which the Company derives explicit RPI cashflow linkage is the RO scheme, which will now be indexed to CPI. The Company's Contracts for Differences instruments also have explicit CPI linkage. The Board has therefore determined that its dividend policy will now be to aim to provide shareholders with an annual dividend that increases in line with CPI inflation.

Accordingly, the Company announces an increase in the target dividend for 2026 to 10.7 pence per share in line with CPI for December 2025 of 3.4%. The Company's forward looking dividend cover expectations remain robust and are substantially unchanged.

For the avoidance of doubt, the quarterly interim dividend of 2.59 pence per share with respect to the quarter ended 31 December 2025 remains unchanged."

https://ir.design-portfolio.co.uk/viewer/121/88170

Https://www.lse.co.uk/rns/UKW/net-asset-value-and-dividend-announcement-nt2owt76d0qvrwh.html