Had a listen in on conf call. Here are my notes:Q cap management...

Had a listen in on conf call. Here are my notes:

Q cap management policy: reintroduced dist. What is forward policy/target ratio?
A 1c per half year expectation. Still looking at accretive acquisitions. 1c /half for foreseeable future as it is sustainable.
Q Do you need to own physical firming/ are financial instruments?
A Bias is for owning fast start/flexible physical firming as opposed to owning generation assets. Less concerned about owning generation assets.
Q what is the progress in C&I contract engagement as forward price may be falling.
A Fair to say majority of customers looking at 3 year window. Some go beyond that time with corporate PPA. IFN don't announce customer signings due to competition concerns.
Q Are contract sourcing opportunities available for PPA in new generator off-take?
A Speaking with PPA but complication of entering the grid has slowed down new generation entry. More subdued on the part of developers. Dealing with a number of parties who have work in different stages of progress.
Q Does forward estimate include Syd Desal plant(SDP).
A assumed 1 LGC per MW for SDP. Upside if SDP continues to operate next year.
Q Cherry Tree come in Q4?A 1st energy Q3. Full commissioning Q4?
A Yes. Small amounts prior to commissioning not material.
Q Re Forsyth shortlisting - is there expectation around timing of award?
A Process has resurfaced. Gov is seeking to move in next few months with propositions. Contenders have been waiting a long time for bid opportunity. Material rule changes have affected bids and if an announcement comes out in next few months there will be a lot of caveates on bids.
Q Any expectation around SA govt firming opportunities?
A process is n SA govt hands. IFN is not expecting anything to affect their strategy but they are keen to see how that progresses.
Q tax offsets
A There is still a large tax residual from previous losses and they are still slowly being absorbed in the coming years.