The Revenge of Meredith Hunter
08 Sep 2015
Pennon tipped in Mail on Sunday MIDAS column Copy the link here from associated site This Is Money:[link]
lambrini girl
08 Sep 2015
Re: Is there anybody there? nm inclined to wait..nearer 666...
EssentialInvestor
19 Jul 2015
Re: Is there anybody there? nm Looks a decent longer term entry point around these levels IMV.The energy from waste facilities beginning to increasingly contribute from here on, with the bulkof investment already spent.Longer term there is big sector consolidation coming with liberalisation,the BA acquisition will be the first of many in the wider sector.Ultimately Pennon may be taken out IMV.Ex the 21.82 Final dividend early August.
Hardboy
21 Apr 2015
Placing They rushed to get the placing done before the General Election. I guess they are expecting a Labour Government.
The Revenge of Meredith Hunter
15 Apr 2015
Re: Is there anybody there? nm You're not alone.
Happy Rabbit
03 Mar 2015
Re: Is there anybody there? nm Excellent! I thought I was alone on planet PNN!
Butterflybill
02 Mar 2015
Re: Is there anybody there? nm YES!Happily sitting on a nice profit after approx 2 years ownership!
Happy Rabbit
02 Mar 2015
Is there anybody there? nm nm
Happy Rabbit
23 Feb 2015
Does it make sense? I spent some time going over PNN this weekend, as I am looking for income generators to replace some of my bond holdings, and with the new price determination now sorted for their water business it seemed like a good time to buy.With a yield of just 3.5% (UU. 3.8%, SVT 3.9%) it is on the low side and a p/e of 22 (UU. 9, SVT 11) it looks somewhat (!?) overpriced, so why should I buy?It seemed as though the waste side, and in particular the ERF or EfW would give growth, so I looked at this in detail, and was somewhat shocked at what I found. I got investment details on nine of the ten ERF schemes that PNN are involved with, and when complete they will have cost a staggering £1,600m (£1.6bn) and will generate just 220Mw of electricity and 68Mw of thermal. For the electrical generation, that is £7.25m/Mw!!!! This compares with just £0.65m/Mw for a CCGT power station. To put that in to context, PNN and its partners could have built five complete CCGT power stations for £1.6bn, and generated some 2500Mw of power! Fuel costs for CCGT continue to fall, but clean spark spreads are still very low, and fuel cost for the ERF plants depend entirely on the government's view on landfill tax and the waste customer/supplier being willing to pay this tax when the waste isn't going to land fill. Well, that surely can't last!Recyclate is currently exported to China for material recovery, but China produce their own waste, so that isn't going to last, and recyclate export prices will continue to fall.So what is it that I am missing, because a lot of people see this as a decent investment, or the price would not be where it is? Puzzled,
