All power companies valuations goes up from marketscreener.com, because of removing uncertainty?
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All power companies valuations goes up from marketscreener.com, because of removing uncertainty?
This is not correct Rep. All the large hydro plants in Iceland, including all supplies to ALCAN (Rio Tinto), are owned by a State Owned Enterprise (Landsvirkjun).
They are having exactly the same discussion up there as has been had here regarding Tiwai. Word for word the same arguments.
https://coys.co.nz/:entity?no=156735...ELTERS+LIMITED
NEW ZEALAND ALUMINIUM SMELTERS LIMITED
Pick out the links to the Financial Statements in the list, right click to view from Companies Office site
I see the latest is year to 31 Dec 2019 with 2018 comparatives
2019 FY Loss ($355m) after Tax - but that was after ($455m) in Other Losses booked on Derivatives at Fair Value upstairs
2018 FY Surplus $220M After Tax - but after $333m Other Income booked on Derivatives at Fair Value upstairs
Note 4 (page 23) as I posted earlier "TOLLING REVENUE" 2019 FY $725m 2018 FY $698m
If I'm not wrong - "An Outfit deriving it's Revenue from processing Stuff for Others"
Why does a TOLLING Outfit billing "participants" for it's major Revenue Source have a hefty Derivatives exposure ?
It can't be - surely - north of $500 M in Derivative Assets at 2018 Y/e in relation to Power ??
Not much Change in "Raw Materials, Energy & Consumables" for the 3.72% Revenue increase between 2018 & 2019 years
either -
2019 $523.066 M v 2018 $523.517 M
Included in Non Current Receivables is this Gem:
Note 12:
'Environmental Restoration account 2019 $47.98 m 2018 $ 47.98 m'
'This is a deposit held with NZ IRD in relation to future environmental restoration cost which can be withdrawn when the environmental closure costs are incurred''
That's it - that's all the Bucks that have been put aside towards the Larger environmental costs now coming out in recent announcements
Where is the rest coming from ? $2.7 m in the bank aint going to go far
What is the turf (badly environmentally impaired presumably when close down occurs) this outfit sits on, or the blocks & four walls of improvements going to be worth in a depressed Southland economy after close down ?
Do a chernobyl and just cover it in concrete, by heavy lift helicopters. The concrete dome will then become a tourist drawcard. That would cost 48 mill. A proper cleanup would cost a lot more. Of course, the chernobyl option, would be a disaster, just like chernobyl.
I stand corrected (memory going in old age) - That’s the smelter that Norske Hydro looked at buying a couple of years ago.
The Alcan smelter in British Columbia at Kitimat is powered by the Kemano Power House which is operated by Rio Tinto.
The Saguenay - Lac-Saint-Jean region has four smelters, an alumina refinery and six hydro electric plants all operated by Rio Tinto. It appears to get a fair bit of assistance from the Quebec and Canadian Government for operations and makes up half of their global output.
So the Iceland smelter, Tiwai and the small one at Bell Bay (in Tasmania) are all powered by Hydro but not from a Rio Tinto powerplant - unsurprising that the Iceland was up for sale and Tiwai looking at closure and I’m wondering if Bell Bay isn’t next.
As I understand it, in the short term, there seems to be no way that the electricity produced at Manapouri can be incorporated into the national power supply. It is effectively “stranded” somewhere down in the deep south.
To “free” it will require a decent-sized piece of work from TransPower, which is likely to lead to a decent-sized bond issue.
“Hoorah!” cried the fixed-interest enthusiasts. “A new issue to stag!”
Then in the medium term, perhaps Manapouri has a strategic role as a big wet storage battery to cover for those days when the wind isn’t blowing. In some ways comparable to the “standby” thermal power stations of the 1990s.
And finally in the long term, the electrification of the transport sector of the economy (road, rail, and scooter), and possibly a hydrogen-production industry may well gobble up all of Manapouri’s output once it's available.
Whilst in the long term any hydro is a 'run of the river' station the combination of manapouri & te anau give it 660M cubic metres of head room, enough to run the station flat out for two weeks (assuming 0 inflows).
[ I hope I have got that right :scared:]
However, the design lends itself to continuous base load scenarios and in the short term, as has been commented widely, the inability to feed the maximum power output into the main grid limit how it can be used efficiently.