Well aware of the differences between WEM and NEM, but the same...

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LongCleanEnergy

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25/10/22

13:08

Post #: 64382085
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Originally posted by emptytrolly: ↑

You guys are pointing to articles specifically talking about the NEM (national energy market) not the WEM which is where DEL was selling power. These markets operate with different rules with the WEM having price caps, and also has access to gas reverses. This difference meant that while wholesale prices in the NEM went up 100's of percent, the WEM only went up 10s of percent.

They were not damned if they did or didn't, I'm pissed because they just mislead holders, they were saying in interviews only a couple of weeks ago that operating in the WEM isolated them from the troubles other retailers were facing in the NEM and that they remained making good margins. Just like they said they were making good margins on EPC contracts then a few months later announce losses on millions of dollars. At this point I have not much faith in anything Hamish says anymore. Next year and the YarraValley build will determine if they can actually walk the walk or they are just talk.

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Well aware of the differences between WEM and NEM, but the same point remains and applies - these guys are not equipped to deal with the markets/hedging/counterparty exposures.

Thank F the WEM was not as volatile as the NEM otherwise we would be in real financial distress (and Palisade would have taken even more advantage of the situation!).

In terms of disclosure - yes its been a disgrace.

DEL Price at posting: 8.7¢ Sentiment: Buy Disclosure: Held
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