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22 Nov 2022 07:00
22 November 2022
LEI: 213800IE1PPREDIIZB62
Atrato Onsite Energy plc
(the "Company")
No impact from Electricity Generator Levy
Atrato Onsite Energy plc (LSE: ROOF), the investment trust focusing on UK commercial onsite solar, provides an update on the Electricity Generator Levy outlined by the UK Government as part of the Autumn Statement 2022 ("the Levy"). The investment adviser's initial assessment is that the Company will not be affected by the Levy.
The Levy is a temporary windfall tax of 45% that will be applied to wholesale market revenues above £75/MWh on UK low-carbon electricity generation. The Levy will be applied from 1 January 2023 until 31 March 2028.
The Company's focus on long-term highly contracted solar PV systems results in a low sensitivity to wholesale power prices. Based on the current portfolio and pipeline, the Levy is not expected to impact the Company's target returns or net asset value.
ENQUIRIES
Atrato Partners Limited Gurpreet Gujral Francisca Wiggins Christopher Fearon
| +44 (0)7795 975 560 |
Alvarium Securities Limited Mark Thompson Eddie Nissen Oliver Kenyon
| +44 (0)20 7016 6711 +44 (0)20 7016 6713 +44 (0)20 7016 6704 |
Kaso Legg Communications Charles Gorman Millie Steyn | atrato@kl-communications.com +44 (0)20 3995 6673 +44 (0)20 3995 6671 |
Notes to Editors
Atrato Onsite Energy plc is an investment company focused on onsite green energy generation, providing new renewable energy capacity with 100% carbon traceability to industrial and commercial counterparties. The Company focuses on UK commercial rooftop solar, helping its corporate clients achieve net zero and reduce their energy bills. Its shares were admitted to trading on the premium segment of the Main Market of the London Stock Exchange on 23 November 2021. Atrato Partners Limited is the Company's investment adviser.
Further information is available on the Company's website, www.atratoroof.com.
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