Third quarter FY17 production and revenue

Third quarter FY17 production and revenue

28 April 2017

Infigen Energy (ASX: IFN) today reported unaudited production and revenue for the three months ended 31 March 2017 (Q3 FY17).

Q3 FY17 Q3 FY16 Change %
Production (GWh) 344 309
11
Production sold (GWh) 325 298
9
Revenue ($ million) 49.2 39.8
24
Price ($/MWh) 143.0 113.51
26

Production of 344 GWh for Q3 FY17 was 11% or 35 GWh higher than the prior corresponding period (pcp) primarily due to better wind resource in New South Wales (NSW).

Production sold was 9% or 27 GWh higher than the pcp due to better wind resource partially offset by a less favourable marginal loss factor at the Lake Bonney wind farms.

Revenue of $49.2 million for Q3 FY17 was 24% or $9.4 million higher than the pcp primarily due to higher merchant electricity prices in South Australia and NSW, and higher production.

The average bundled price (Revenue/Production) for the sale of electricity and Large-scale Generation Certificates (LGCs) of $143.0/MWh was 26% or $29.5/MWh higher than the pcp due to higher dispatch weighted average electricity prices and higher LGC prices.

The production and revenue outcomes for Q3 FY17 are consistent with Infigen’s revised FY17 underlying EBITDA guidance of $147 million2 provided to the market on 3 April 2017.

 

1 Q3 FY16 calculated price excluded net hedging revenue.
2 Excludes the profit on sale of Manildra of $4.3 million and $5.7 million fair value uplift relating to the Bodangora acquisition.

 

ENDS

 

For further information please contact:

Richie Farrell
General Manager, Strategy & Corporate Affairs

Marju Tonisson
Manager, ESG & Investor Relations

Tel +61 2 8031 9900

 

Download the PDF file: Q3 FY17 Production and Revenue Report

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