22nd Nov 2022 13:26
Atrato Onsite Energy PLC - London-based renewable energy investment trust - Says its initial assessment is that it "will not be affected" by Electricity Generator Levy. Electricity Generator Levy, announced as part of the autumn statement, is a temporary windfall tax of 45% applied to wholesale market revenue about GBP75 per megawatt hours on low-carbon electricity generation. Levy will be applied from January 1, 2023, until March 31, 2028.
Company says its focus on "long-term highly contracted solar PV systems" which 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."
Current stock price: 85.18 pence, up 1.4% on Tuesday in London
12-month change: down 21%
By Chris Dorrell; [email protected]
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