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HEIT Harmony Energy Income Trust Plc

51.80
0.30 (0.58%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Harmony Energy Income Trust Plc LSE:HEIT London Ordinary Share GB00BLNNFY18 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.30 0.58% 51.80 51.40 52.00 51.70 51.50 51.50 605,134 16:35:10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 6.61M 3.14M 0.0138 37.46 117.43M
Harmony Energy Income Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker HEIT. The last closing price for Harmony Energy Income was 51.50p. Over the last year, Harmony Energy Income shares have traded in a share price range of 32.90p to 109.00p.

Harmony Energy Income currently has 227,128,295 shares in issue. The market capitalisation of Harmony Energy Income is £117.43 million. Harmony Energy Income has a price to earnings ratio (PE ratio) of 37.46.

Harmony Energy Income Share Discussion Threads

Showing 351 to 374 of 375 messages
Chat Pages: 15  14  13  12  11  10  9  8  7  6  5  4  Older
DateSubjectAuthorDiscuss
10/6/2024
19:21
Thanks. I've read the RNS again. Yes, you're right, the for sale has gone up. It might not be a bad thing entirely. Building BESS from a standing start now involves long waits for grid connections and much more expensive construction materials and labour costs. So a ready built set of almost new operating assets of 2 hour duration should be an attractive purchase. Certainly, for a pragmatic management, a complete portfolio sale should get some consideration. Anyway, HEIT is too small to survive long term on it's own, I think.
cruelladeville
10/6/2024
18:37
@CDV they did indicate this in the 30/5 RNS was a possibility if the price was right. Octopus are by far and a way the biggest domestic supplier and they are big on green credentials as well so batteries give them a way of ensuring they can time shift renewable energy when its over provided to being under provided so are credible bidder. The fact remains though is there is a huge pipeline of assets coming on line this years and this includes the mega batteries many of which have been strategically positioned to hoover up excess wind energy that currently gets constrained off so i would reckon Octopus will also be looking at those assets as potential providers.
nickrl
10/6/2024
17:07
Article in Citywire talking about Octopus and GRID says HEIT has put itself up for sale. The whole portfolio. I can't see anything from the company about that? Is it press speculation or something more solid?
cruelladeville
30/5/2024
09:38
It's the same issue as GRID. Until they get the remaining 3 assets on line generating revenue, the cashflow isn't enough to support a dividend.
cc2014
30/5/2024
09:33
Interesting RNS. With the shares trading at half the latest reduced NAV, all the assets are on the block. That should be enough to tempt one of the larger trusts or a private asset manager to table a sensible bid. Not exactly great timing to sell but sector consolidation makes a lot of sense
robertspc1
30/5/2024
08:52
So HEIT following in GRID footsteps and declaring no divi for 2024 now but expecting to be able pay out in 2025. Not really sure what is going to change over the next 6mths to improve the revenue position given what they are now saying about forward energy forecasts. Certainly taking a harsher line than GRID. They tell us that 100k/MW will support 8p divi which is useful to know but need to back fit the data.

They are soft marketing the portfolio and looks like if someone makes a sensible offer they will liquidate the lot.

nickrl
29/5/2024
20:07
That seems quite an aggressive move when I look at their website. I wonder if there is more to it than meets the eye
cc2014
29/5/2024
17:43
Primestone capital up 5 to 10% im guessing picked up someone else's holding.
nickrl
29/4/2024
19:48
Not understanding why GRID and HEIT share prices have moved in opposite directions?
cruelladeville
29/4/2024
11:39
All things considered, not a bad set of results by GRID. Hoping for at least as good to come from HEIT given their higher duration portfolio.
cruelladeville
21/4/2024
11:10
Additionally it seems unlikely they fill and discharge the batteries to 100 and 0 unless the spread was more like 100 due to battery degradation
cc2014
20/4/2024
23:21
@llef thats per MW though?

Would say that £30/MWh spread twice day isn't viable in the current market as when renewables have low penetration the spread closes considerably. They can get more in the BM if called on but that is the problem currently albeit improving.

nickrl
20/4/2024
17:37
@nickrl, ok thanks.

Just made a back of teh envelope calc, if you have a 2 hour battery, and charge o/n and release in morning peak, charge in pm and release in evening peak, and you make 30 quid margin each time, and you do that 365 days a year, then you generate 2*30*2*365=120*365 = £43,800 a year.

That would seem to me, to be as good as it could get for battery trading?

Would that on its own, be sufficient for HEIT to build out its pipeline, pay interest and pay a dividend?

llef
19/4/2024
10:58
@llef at least a third of BESS assets aren't in the BM so rely upon the wholesale market for revenue and i believe can register for the frequency response services and some are using them to manage their own trading accounts.
nickrl
18/4/2024
16:14
It's not that BESS can't do it. They're just not big enough yet. Arguably, they shouldn't be getting that big anyway because at very large scale other technologies are more suitable. But the UK for some reason is very slow to deploy technologies such as cryogenic air energy storage or compressed air energy storage plants. There's a couple of small cryo plants built with more to come. But as yet we haven't got a CAES plant built. Both those technologies fit nicely between BESS and pump storage hydro in terms of capacity. There's possible hydrogen storage in the future but low round trip efficiency is a big problem and as yet there's no gas turbines on the market for 100% hydrogen combustion.
cruelladeville
18/4/2024
14:20
@nickrl, ahhh ok thanks.

But if they can trade in the wholesale market to take advantage of the opportunities such as those available tomorrow, why is there such a fuss being made about them not being utilised much for the BM?

After all, if they have committed their batteries to provide power in the wholesale market, then those batteries are not available for the BM are they? Or have I misunderstood the relationship between the wholesale market and the BM?

Thanks

llef
18/4/2024
13:59
@llef they don't need the BM can still trade in the wholesale mkt.

@CDV the issue for the ESO is batterries can't deliver enough oomph when its needed. Biggest problem they face is high wind in Scotland saturates the transmission capability so they have constrain off 100's of MWH for hours and only gas can pick up that load currently with BESS topping up. However some supersized batteries coming that will change the game.

nickrl
18/4/2024
13:40
ESO need their backsides kicking. They should be utilising battery storage before gas fired generation to help fulfil obligations to decarbonise the grid. Habits of a lifetime are obviously entreched in the grid control centre and they feel more comfortable dispatching gas fired generation. BESS should be doing 2x cycles at the moment every day to arbitrage the price difference off peak/peak and stabilise the supply/demand.
cruelladeville
18/4/2024
10:14
Nickrl - an important detail is that the investment adviser is paid on lower of market cap or NAV here. It'll trail a bit but IA fees should now be <£1m
jg231
18/4/2024
09:13
Does this good news for HEIT translate across to GRID too?
dickiehh
18/4/2024
09:04
With such high solar and wind generation, BESS facilities should be making hay. Current conditions are exactly what battery storage facilities are intended for. Buying opportunities here and GRID?
cruelladeville
18/4/2024
08:52
AGM trading update confirms what MODO and bessanalytics data have been saying over improved trading income. Its suggests an improvement on my assumptions above (#310) so maybe closer to breakeven than i thought but not clear if the figures include capacity market payments or not. They aren't giving anything else away but anyone who has the analyst report that pulled the rugged from underneath the BESS trusts could test their assumptions with this data. Anyone pushed the share price up a bit but hasn't helped GRID!
nickrl
16/4/2024
10:02
With wind and solar generation fairly regularly generating half to two thirds grid load I would have thought opportunities for BESS facilities are excellent. I note SSE has just brought a facility on line too.
cruelladeville
15/4/2024
21:17
Thing with HEIT is every BESS is registered in the balancing mechanism unlike GRID where less than half are so you get a pretty good view from bessanalytics of likely revenue generation albeit that isn't the exact revenue as they have to make a lot of assumptions.

The last few weeks has been above average wind production which brings the volatility into the market that provides optimum conditions for HEIT to exploit but will likely drop off as summer proceeds so wouldn't take it as the new normal but balancing reserve is certainly providing an additional boost. So using the 90 day average (40k/MW/yr) gives c10m trading income + capacity mkt payments of c3.4m ie 13.4. Expenditure we know on the loan is going to absorb 8.9m then looking at AR23 they provide an unaudited consolidated account of the subsidiaries which has the following costs

Investment Adviser 2.1m (will drop as NAV falls)
SPV costs 2.5m (presumably the running costs of the BESS sites)
Holdco costs 2m (no idea what they could be)

So no way dividend is being restored anytime soon based on 90 day average but at current 30 day rate there is a possibility of surplus cash to fund c1-1.3p dividend so at best barely 3% yield.

I'll keep it on watch for the time being but don't see divi restoration anytime soon.

nickrl
Chat Pages: 15  14  13  12  11  10  9  8  7  6  5  4  Older

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