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Thread: TRUST POWER

  1. #241
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    The AustralianSuoer takeover proposal for IFT has some interesting implications for TPW if it succeeds. It looks like TPW is the only IFT asset that AustralianSuoer doesn’t want.

    The distribution of TPW shares to IFT shareholders opens up the share register with the disappearance of a majority shareholder. Presumably a fair few TPW shares get flicked on by IFT shareholders, putting downward pressure on the share price. Or is this an opportunity for someone else to control TPW - who are the likely contenders?

    What future direction does TPW take free from IFT’s control?

  2. #242
    Senior Member Marilyn Munroe's Avatar
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    Crrikey! Another Neu Zeelund generator in trouble with the regulator.

    https://www.abc.net.au/news/2020-12-...ckout/13007234

    Trustpowers South Australian subsidiary(1) Snowtown Wind Farm Stage 2 fined $AU1 million dollars. Apparently the generator trip levels in low grid voltage events were set incorrectly and contributed to a state wide blackout.

    South Australia is an enthusiastic implementer of environmental wokeism. Gung ho on wind power and anti fossil fuel generation.

    Will Kiwi Energy Minister Megan Woods have learnings from this incident about what happens when you go all in on fickle wind power and lack the grunt provided by fossil fuelled baseload generation to keep the lights burning?

    Boop boop de do
    Marilyn

    (1) Since sold, not sure if the new owner cops the fine.
    Last edited by Marilyn Munroe; 23-12-2020 at 02:54 AM. Reason: Added URL
    Diamonds are a girls best friend.

  3. #243
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    One could always read the announcement directly and not rely on the media
    https://stocknessmonster.com/announc...lt.nzx-365519/

  4. #244
    Speedy Az winner69's Avatar
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    So Trustpower’s F22 earnings in line with F21

    http://nzx-prod-s7fsd7f98s.s3-websit...340/346177.pdf
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #245
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    Anyone know what's going on with SP drop?
    Or is this ongoing drop due to TPW going ex div on the 10th June. (Usually price drop stabilizes not long after ex date)

    Has there been a "fail" in due diligence for possible sale of their Retail assets? (Insider trading ?)
    Last edited by Davexl; 17-06-2021 at 05:44 PM.
    All science is either Physics or stamp collecting - Ernest Rutherford

  6. #246
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    Correction!

    TPW announces conditional sale of its Retail Business

    Just as well I bought a bunch at $8 before they bounced!

    https://www.nzx.com/announcements/374217
    All science is either Physics or stamp collecting - Ernest Rutherford

  7. #247
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    It will be interesting what is in the detail for Trustpower
    https://stocknessmonster.com/announc...pw.nzx-374217/
    "An electricity hedge structure has been agreed to support the customer retail demand. More details
    of this are provided in the separate Investor Presentation released along with this statement. The
    terms of this hedge underpin Trustpower’s earnings for the medium term and the initial price has
    been set taking advantage of current firm wholesale prices."

  8. #248
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    Energy hedge

    When the transaction completes Trustpower will enter into a new energy hedge (CfD) with Mercury

    •Arms length pricing independent of the retail sale gives increased price certainty.

    •Allows for an orderly transition between a bi-lateral hedge and a portfolio of hedges/sales into the C&I market.

    •Volume shaped by season and time of day and price set at mutually agreed locations and with prevailing peaking factors.

    •Trustpower believes that the wholesale energy market is sufficiently efficient that as these hedges roll off it can place its generation into market, or enter into further hedges, at fair prices.

    Jantar / Anyone - Can you explain how the bi-lateral hedge transitions into the C&I market? TIA...
    Last edited by Davexl; 21-06-2021 at 11:06 AM.
    All science is either Physics or stamp collecting - Ernest Rutherford

  9. #249
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    Quote Originally Posted by Davexl View Post
    ...

    Jantar / Anyone - Can you explain how the bi-lateral hedge transitions into the C&I market? TIA...
    Without knowing their existing hedge contracts it is difficult to comment. I suspect that TPR and MCY each have hedges with the other, possibly in the form of swaptions. But TPR probably has sold its own hedges to some C&I customers, and these would be separate from its retail book. As TPR will not have any retail going forward it's current buy hedges from MCY would roll off and be replaced with sell hedges to MCY.

    Unless specifically provided for in the sales agreement, there is nothing stopping TPR from concentrating on selling to C&I customers going forward.

  10. #250
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    Quote Originally Posted by Jantar View Post
    Without knowing their existing hedge contracts it is difficult to comment. I suspect that TPR and MCY each have hedges with the other, possibly in the form of swaptions. But TPR probably has sold its own hedges to some C&I customers, and these would be separate from its retail book. As TPR will not have any retail going forward it's current buy hedges from MCY would roll off and be replaced with sell hedges to MCY.

    Unless specifically provided for in the sales agreement, there is nothing stopping TPR from concentrating on selling to C&I customers going forward.
    Thank you once again - TPW does intend to sell to C&I customers only, just wish we had a bit more certainty...
    All science is either Physics or stamp collecting - Ernest Rutherford

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