20th Jan 2014 10:03
LONDON (Alliance News) - Independent gas and power producer Alkane Energy PLC said Monday that it expects full-year results in line with expectations as it saw output increase in the year ended December 31, 2013, boosted by its acquisition of an 11-megawatt coal mine methane facility at Maltby Colliery in Rotherham.
The company expects to have delivered around 192 gigawatt hours of electricity in 2013, up from 167 gigawatt hours in 2012, helped by the contribution of the newly acquired facility.
Alkane said that electricity pricing had remained stable over recent months, with an expected average base load price of around GBP53 per megawatt hours for the year.
The company opened a new site at the former Prince of Wales Colliery, Pontefract, in December and said this new facility was part of the roll out of new capacity from its existing licence acreage.
"Alkane continues to invest in new facilities as the UK electricity market faces an increased risk of an energy gap over the coming years," said Chief Executive Officer Neil O'Brien in a statement. "It has been our 10th successive year of output growth and we remain confident of future prospects."
Shares in Alkane were trading down 0.3%, or 0.15 pence, at 49.60 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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