This is all to do with the LGC shortfall and futures strategy. A lot of players are doing this, so I don't have an issue with it.
Further information here:
https://www.cleanenergyregulator.gov.au/RET/Scheme-participants-and-industry/Renewable-Energy-Target-liable-entities/Refunds-of-large-scale-generation-shortfall-charges
What I do have an issue with is this is a STRATEGY that would have been known at the time of the IPO, and so why wasn't the financials presented at the time of the IPO not incorporating these one-off hits. I can't see any commentary in the prospectus about this!
Its about managing market expectations and when these one-offs for LGCs started to flow through in FY2021 it caught the market offside.
Maybe, if the had included it in the IPO financial the float would have never gotten away!
Absolutely f'ing hopeless at managing market expectations and communicating to the market. End of Q1 FY2023 has 4 trading days left in it.... hoping for a miracle that finance is secured by end of this week?
% Completion of Various Plants, page-40
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