Ecofin Water&powr Opportunities Share Discussion Threads

[praipus] 11/3/2009 15:17

Share your concerns re the NAV. Also the markets reaction to IPR International Powers reporting profit above last years, soothing comments from CEO re ability to raise capital for projects and only a 3.5% drop in electricty volumes on a like for like basis. share price dropping away wildly.

Things are definitely not good. The government still messing with monetary policy when they need to get a grip of fiscal policy and slash corporation and income tax IMHO.

I wonder at what point the opposition and the people of the country can insist on a vote of no confidence.

[david77] 07/3/2009 19:04

I don't like the way that the Cap net assets are falling out of bed - worrying - that's the risk with gearing.

From the latest MoneyWeek:

"Which industry sectors are
best placed to withstand the
recession? Accountancy group
PricewaterhouseCoopers (PWC)
has taken a look at how
vulnerable 15 major British
business sectors are to the
downturn. The group’s head of
macroeconomics, John
Hawksworth, looked at three
main features: cyclicality, current
financial strength and growth
potential. So which sectors should
stay strong – and which should
you avoid?"
...
"However, PWC likes chemicals, a sector
dominated in Britain by big pharma
firms. In the short term, they can rely on
a “steady flow of orders from the NHS”.
We like GlaxoSmithKline (LSE:GSK), on
a yield of 5.4%. Next come food retailers
such as Tesco (LSE: TSCO) – yield 3.7%
– and utility firms such as National Grid
(LSE:NG), which yields 5.8%. As the
report concludes, “electricity, gas and
water suppliers are more affected by
regulatory regimes and weather
conditions than short-term economic
fluctuations”, making them a relatively
safe shelter as the storm rages."

[praipus] 06/3/2009 15:33

Ecofin Water & Power Net Asset Value(s)

RNS Number : 3983O
Ecofin Water & Power Opps PLC
06 March 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 4 March 2009, the un-audited
Net Asset Values per share of the above investment trust company were:-

+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 102.35 | 0.06 | 0.06 |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 418.77 | - 9.82 | - 45.62 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 139.84 | - 5.10 | - 7.52 |
+----------------------------------+------------+------------+-------------+

* Inclusive of undistributed revenue

+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 490,198 |
+----------------------------------------------+------------+
| Cash at Bank | 13,375 |
+----------------------------------------------+------------+
| Total Assets | 503,573 |
+----------------------------------------------+------------+
| Borrowings | 128,737 |
+----------------------------------------------+------------+
| Net Assets | 374,836 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 30.8 % |
+----------------------------------------------+------------+
| Effective gearing on Ordinary Shares | 22.9 % |
+----------------------------------------------+------------+

Phoenix Administration Services Limited
Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[praipus] 04/3/2009 17:21

I think ICT one of the largest holding will benenfit a lot.

Ecofin Water & Power Net Asset Value(s)
TIDMECW

RNS Number : 2429O
Ecofin Water & Power Opps PLC
04 March 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 28 February 2009, the
un-audited Net Asset Values per share of the above investment trust company
were:-
+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 102.29 | 0.05 | 0.05 |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 464.39 | - 1.23 | - 5.76 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 147.36 | - 0.54 | - 0.80 |
+----------------------------------+------------+------------+-------------+

* Inclusive of undistributed revenue

+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 502,720 |
+----------------------------------------------+------------+
| Cash at Bank | 12,852 |
+----------------------------------------------+------------+
| Total Assets | 515,572 |
+----------------------------------------------+------------+
| Borrowings | 119,302 |
+----------------------------------------------+------------+
| Net Assets | 396,270 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 26.9 % |
+----------------------------------------------+------------+
| Effective gearing on Ordinary Shares | 19.6 % |
+----------------------------------------------+------------+

Phoenix Administration Services Limited
Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[david77] 28/2/2009 20:01

In yesterday's MoneyWeek, there's a three page story about America's decrepit "60-year-old relic".

"... in the summer of 2003, ... a 350,000 volt power-line brushed against a roadside tree, setting off a chain reaction that would end up causing more than $6bn of damage. The local power grid was tripped, sending a surge that short-circuited power systems from Detroit to New york. Trafficlights failed, subways were evacuated and thousands of people were trapped in lifts in offices and apartments. It was the biggest blackout in American history, with more than 50 million people ending up in darkness that night."

The US was one of the first to have a national power network - which is now antiquated by international standards. President Obama has announced $4.5bn spending over the coming years to bring the US power network up to modern standards.

I expect Ecofin will be on the look out for investment opportunities.

[praipus] 28/2/2009 11:11

Thanks david77 good article.

Ecofin Water & Power Net Asset Value(s)

RNS Number : 0300O
Ecofin Water & Power Opps PLC
27 February 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 25 February 2009, the
un-audited Net Asset Values per share of the above investment trust company
were:-

+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 102.24 | 0.12 | 0.12 |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 470.15 | - 4.81 | - 23.76 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 148.16 | - 2.49 | - 3.78 |
+----------------------------------+------------+------------+-------------+

* Inclusive of undistributed revenue

+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 501,877 |
+----------------------------------------------+------------+
| Cash at Bank | 13,261 |
+----------------------------------------------+------------+
| Total Assets | 515,138 |
+----------------------------------------------+------------+
| Borrowings | 116,470 |
+----------------------------------------------+------------+
| Net Assets | 398,668 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 25.9 % |
+----------------------------------------------+------------+
| Effective gearing on Ordinary Shares | 18.8 % |
+----------------------------------------------+------------+
Phoenix Administration Services Limited
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END

[david77] 27/2/2009 13:56

from today's MoneyWeek:

Fund of the week

Ecofin will power through recession

Even in a falling
market, the firms that
generate our power
and keep our water
pumping should beat
other stocks. After all,
we can’t do without
these services.Yet the
EcofinWater & Power Opportunities Trust,
run by Bernard Lambilliotte, has fallen
26.4%, against a 32.3% drop for the FTSE
All-Share over one year. So is this utilities
fund really a defensive bet?

Wins Investment Trusts believes so.There
are short-term hurdles to overcome, not
least falling electricity demand as the
global economy slows, but Wins believes
that “long-term growth in demand for
energy” and “the huge investment
required to make up for years of underinvestment̶1;
should support the sector,
says Investors Chronicle. Over half of the
firms in the Ecofin portfolio are based in
the UK or Europe, with around 27% in US
assets, such as ITC Holdings.This is a
holding firm that invests in other firms
involved in electricity transmission projects
across America.That should put it in a
good position to benefit from Obama’s
plans to boost the economy through
national infrastructure, says Ecofin.

While 70% of its holdings are in electricity
firms, they’re not all big utilities like
British Energy. It recently took a 10%
stake in Hansen Transmissions, which
makes gearboxes for wind turbines and
has contracts with four of the biggest
global wind-turbine manufacturers.
Gearboxes are highly customised, so for a
wind-turbine maker, changing suppliers is
a costly and time-consuming business.
That means Hansen should be fairly
resilient to a slowdown in the sector,
given the high barriers to entry.Trading
on a discount of 7.7%, and yielding 3.8%,
the fund looks good value.

Contact: 020-7451 2929

[praipus] 25/2/2009 09:32

Utilico's Half yearly report, very interesting



"Ecofin capital shares declined by 24.9%, a very creditable performance given
their geared nature. Capital shareholders will, in April 2009, be given the
option of accepting a cash tender offer at 97.5% of 31 March 2009 NAV, or
swapping into Ecofin ordinary shares on an NAV equivalent basis. As at 31
December 2008 the discount to the published NAV was 13.8%. We fully expect to
accept the cash tender offer. During the six months we reduced our holding of
capital shares by almost one third, at an average price of 624.4p, realising
GBP8.7m."

[praipus] 21/2/2009 21:09

This head line from the FT if its true and other governments around the world follow means the beginning of the recovery IMHO

"Obama tells US Treasury to begin cutting taxes"

Assuming it refers to corporation tax's. Entrepreneurs will begin committing their minds and capital to building profitable businesses again.

[praipus] 21/2/2009 20:46

RNS Number : 6226N
Ecofin Water & Power Opps PLC
20 February 2009
ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 18 February 2009, the
un-audited Net Asset Values per share of the above investment trust company
were:-

+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 102.12 | 0.11 | 0.11 |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 493.91 | - 7.57 | - 40.48 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 151.94 | - 4.16 | - 6.59 |
+----------------------------------+------------+------------+-------------+


* Inclusive of undistributed revenue

+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 513,903 |
+----------------------------------------------+------------+
| Cash at Bank | 12,434 |
+----------------------------------------------+------------+
| Total Assets | 526,337 |
+----------------------------------------------+------------+
| Borrowings | 116,817 |
+----------------------------------------------+------------+
| Net Assets | 409,520 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 25.5 % |
+----------------------------------------------+------------+
| Effective gearing on Ordinary Shares | 18.6 % |
+----------------------------------------------+------------+


Phoenix Administration Services Limited
Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[praipus] 18/2/2009 21:09

Monthly update is out now, a good read and not quite the same amount of bad news that the market would have you believe....for utilities anyway.

[praipus] 13/2/2009 14:27

RNS Number : 2796N
Ecofin Water & Power Opps PLC
13 February 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 11 February 2009, the
un-audited Net Asset Values per share of the above investment trust company
were:-

+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 102.01 | 0.12 | 0.12p |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 534.39 | - 1.84 | - 10.00 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 158.53 | - 0.98 | - 1.57 |
+----------------------------------+------------+------------+-------------+

* Inclusive of undistributed revenue

+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 543,806 |
+----------------------------------------------+------------+
| Cash at Bank | 31,435 |
+----------------------------------------------+------------+
| Total Assets | 575,241 |
+----------------------------------------------+------------+
| Borrowings | 146,870 |
+----------------------------------------------+------------+
| Net Assets | 428,371 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 26.9 % |
+----------------------------------------------+------------+
| Effective gearing on Ordinary Shares | 20.3% |
+----------------------------------------------+------------+

Phoenix Administration Services Limited
Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[praipus] 12/2/2009 10:41

Midas selling down some income shares

[praipus] 06/2/2009 16:40

Ecofin Water & Power Net Asset Value(s)
RNS Number : 8950M
Ecofin Water & Power Opps PLC
06 February 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 4 February 2009, the un-audited
Net Asset Values per share of the above investment trust company were:-

+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 101.89 | -1.86 | -1.93 |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 544.39 | - 1.58 | - 8.76 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 160.10 | - 0.85 | - 1.37 |
+----------------------------------+------------+------------+-------------+

* Inclusive of undistributed revenue

+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 576,640 |
+----------------------------------------------+------------+
| Cash at Bank | 8,561 |
+----------------------------------------------+------------+
| Total Assets | 585,201 |
+----------------------------------------------+------------+
| Borrowings | 152,323 |
+----------------------------------------------+------------+
| Net Assets | 432,878 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 33.2 % |
+----------------------------------------------+------------+
| Effective gearing on Ordinary Shares | 26.3% |
+----------------------------------------------+------------+

Phoenix Administration Services Limited
Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[praipus] 05/2/2009 22:05

One of the directors has bought 200,000 ECWO so you will be in good company david77.

[praipus] 05/2/2009 19:30

Ecofin Water & Power Net Asset Value(s)

TIDMECW

RNS Number : 8723M
Ecofin Water & Power Opps PLC
05 February 2009

?
ECOFIN WATER & POWER OPPORTUNITIES PLC


It is announced that at the close of business on 31 January 2009, the un-audited
Net Asset Values per share of the above investment trust company were:-


+----------------------------------+------------+------------+-------------+
| Share Class | NAV (p) | Increase / | Absolute |
| | | Decrease | movement |
| | | % | (p) |
+----------------------------------+------------+------------+-------------+
| Income Shares * | 103.82 | 0.05 | 0.05 |
+----------------------------------+------------+------------+-------------+
| Capital Shares | 553.15 | - 2.51 | - 14.23 |
+----------------------------------+------------+------------+-------------+
| Ordinary Shares * | 161.47 | - 1.46 | - 2.40 |
+----------------------------------+------------+------------+-------------+


* Inclusive of undistributed revenue






+----------------------------------------------+------------+
| Fund Values | GBP '000 |
+----------------------------------------------+------------+
| Total Assets (less cash at bank) | 579,368 |
+----------------------------------------------+------------+
| Cash at Bank | 12,629 |
+----------------------------------------------+------------+
| Total Assets | 591,997 |
+----------------------------------------------+------------+
| Borrowings | 154,509 |
+----------------------------------------------+------------+
| Net Assets | 437,488 |
+----------------------------------------------+------------+
| Gearing (net debt/net assets) | 32.4 % |
+----------------------------------------------+------------+
| | |
+----------------------------------------------+------------+




Phoenix Administration Services Limited
Company Secretary



This information is provided by RNS
The company news service from the London Stock Exchange
END

[david77] 04/2/2009 19:29

My wife and I have 6300 cap shares. I reckon that they have performed reasonably well over the years so I expect that we will the covert caps to ords.

[praipus] 04/2/2009 16:50

GlynneF posted this on one of the JDT threads:

"GlynneF - 4 Feb'09 - 14:53 - 4241 of 4241


Ecofin
are due to make a tender offer for the income shares at £1 and the capital shares at 97.5% of attributed NAV on 31st March 09. If everyone wanted to sell, they would have to find around £100M. The other option is to convert to ordinary shares.
Does anyone have a view as to whether they could raise £100M ? or £50M ?
I only hold ECW by the way - ECW ex-div today, but another 2.8p divi due."

[praipus] 02/2/2009 12:23

Mangal posted this on the JDT thread

mangal - 2 Feb'09 - 12:16 - 50 of 50


Brown's remarks on "Building the global low carbon recovery" :
"
Globally, it is estimated that environmental industries - renewable and nuclear energy, waste management, pollution control, energy efficient products and so on - are worth $4 trillion and are forecast to grow by 45 per cent over the next eight years.

So I believe that, through these measures, we can engineer a technological transformation that will be one of this century's key drivers of economic growth.
"

[praipus] 30/1/2009 14:34

RNS Number : 5564M Ecofin Water & Power Opps PLC 30 January 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC

It is announced that at the close of business on 28 January 2009, the un-audited Net Asset Values per share of the above investment trust company were:-

Share Class NAV (p) Increase / Decrease % Absolute movement (p)
Income Shares * 103.77 + 0.11 + 0.11
Capital Shares 567.38 + 3.22 + 17.67
Ordinary Shares * 163.87 + 1.90 + 3.06

* Inclusive of undistributed revenue

Fund Values £ '000 Total Assets (less cash at bank) 589,802 Cash at Bank 137,345 Total Assets 727,147 Borrowings 282,873 Net Assets 444,274 Gearing (net debt/net assets) 32.8 %

Phoenix Administration Services Limited
Company Secretary

This information is provided by RNSThe company news service from the London Stock Exchange END

[praipus] 24/1/2009 14:03

Ecofin Water & Power Net Asset Value(s)

RNS Number : 1248M
Ecofin Water & Power Opps PLC
23 January 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 21 January 2009, the un-audited
Net Asset Values per share of the above investment trust company were:-
Income Shares: Net Asset Value: 103.66p per share (including undistributed
revenue)
Capital Shares: Net Asset Value: 549.71p per share
Ordinary Shares: Net Asset Value: 160.81p per share (including undistributed
revenue)
Gross Assets: GBP686,550,000
Loan Facility: GBP250,933,000
Net Assets: GBP435,617,000
Phoenix Administration Services Limited - Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[praipus] 19/1/2009 14:06

Ecofin Water & Power Net Asset Value(s)

RNS Number : 7471L
Ecofin Water & Power Opps PLC
16 January 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 14 January 2009, the un-audited
Net Asset Values per share of the above investment trust company were:-
Income Shares: Net Asset Value: 103.54p per share (including undistributed
revenue)
Capital Shares: Net Asset Value: 523.81p per share
Ordinary Shares: Net Asset Value: 156.34p per share (including undistributed
revenue)
Gross Assets: GBP596,173,000
Loan Facility: GBP173,199,000
Net Assets: GBP422,974,000
Phoenix Administration Services Limited - Company Secretary

This information is provided by RNS
The company news service from the London Stock Exchange
END

[praipus] 09/1/2009 16:31

Bangor, thanks for your post I'm still compiling an apt response.

Ecofin Water & Power Net Asset Value(s)

RNS Number : 4180L
Ecofin Water & Power Opps PLC
09 January 2009

ECOFIN WATER & POWER OPPORTUNITIES PLC
It is announced that at the close of business on 7 January 2009, the un-audited Net Asset
Values per share of the above investment trust
company were:-
Income Shares: Net Asset Value: 103.43p per share (including undistributed revenue)

Capital Shares: Net Asset Value: 560.43p per share
Ordinary Shares: Net Asset Value: 162.08p per share (including undistributed revenue)
Gross Assets: £606,483,000
Loan Facility: £166,910,000
Net Assets: £439,573,000
Phoenix Administration Services Limited - Company Secretary


This information is provided by RNS
The company news service from the London Stock Exchange

END