Foresight Solar Fund Limited OFGEM 'Targeted Charging Review' Update (9928U)
November 28 2019 - 4:36AM
UK Regulatory
TIDMFSFL
RNS Number : 9928U
Foresight Solar Fund Limited
28 November 2019
28 November 2019
Foresight Solar Fund Limited
(the "Company")
OFGEM 'Targeted Charging Review' Update
On 21 November 2019, the Office of Gas and Electricity Markets
(OFGEM) published the Decision and Impact Assessment of its
'Targeted Charging Review' (TCR) detailing changes to the embedded
benefits currently received by generators. The result of the Review
is the proposed end of Balancing Services Use of System (BSUoS)
payments to suppliers from April 2021.
The Company has previously highlighted the potential removal of
these 'embedded benefits' and the results of the TCR are broadly
in-line with the Investment Manager's expectations.
Subject to the finalisation of the TCR and assuming no embedded
benefits from April 2021 the impact on the Company's NAV is
anticipated to be approximately -1.56p per share or -1.4% of the
last published NAV of 109.1 per share as at 30 September 2019. The
Company remains on track to deliver its target dividend of 6.76p
per share for 2019.
For further information, please contact:
Foresight Group
Jonathon McManus
(InstitutionalIR@ForesightGroup.eu) +44 (0)20 3667 8147
Stifel Nicolaus Europe Limited
Mark Bloomfield
Maarten Freeriks +44 (0)20 7710 7600
Citigate Dewe Rogerson
Nick Hayns
Elizabeth Kittle
Lucy Eyles +44 (0)20 7638 9571
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END
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