Why do you think they've moved in to Retail? So your revenue...

Why do you think they've moved in to Retail? So your revenue isn't 50% reliant on LGC income like any other developer-only is. If Retailers with no backed generation are making revenue, what do you think the balance sheet looks like for one that does, aka a Gentailor? They've delivered on the 'Capital Lite' strategy they've been talking about pursuing for some time, it means no debt and cheap cost of energy to support Retail contracts. There's a big arbitrage in between PPA-supply cost and Retail contract revenue, even with added hedging insurance cost to cater for when the wind or solar isn't there. 

Gives me some confidence to re-enter holdings over the next month or so, depending on market sentiment. Next buy target for me is on what other form of 'supporting' generation they can add to the mix, preferably dispatchabale, noting the battery coming online in SA will be just that.