24th Nov 2022 13:30
Foresight Solar Fund Ltd - Jersey-based investment fund focused on solar photovoltaics and battery storage - Confirms it will be affected by the electricity generator levy in the UK. Says potential impact would be a 0.8 pence hit to net asset value per share at September 30, which was 126.4p per share. It said it would get a 7.9p boost from a reversal of the power curve discount but take a 8.6p hit from applying the levy to its forecast UK solar generation revenue. Its battery storage assets are not expected to fall within scope of levy.
The electricity generator levy, announced as part of the UK government's autumn statement, is a temporary windfall tax of 45% applied to wholesale market revenue above GBP75 per megawatt hours on low-carbon electricity generation. Levy will be applied from January 1, 2023, until March 31, 2028.
Current stock price: 117.24 pence, down 1.2% in London on Thursday
12-month change: up 17%
By Chris Dorrell; [email protected]
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