@baldy: I think your conclusion IFN needs more gas firming is incorrect. Smithfield usage is 2-8% of the time as it bids high ($150Mwh) on the NEM. The SA diesel kit being converted to gas and relocated will probably have a similar profile.
Owning these two plants with limited utilisation means IFN has physical plant available 92-98% of the time if contracted obligations cannot be met. Where prices are below $150Mwh, it satisfies its obligations by buying on market or discharging Bonny Bess. Another way, if the market price for firming is above $150Mwh, IFN turns on the gas plants and effectively caps its obligations at that price.
I hope that makes sense.
I don't think the sharemarket yet realises the significance of the above.
Smithfield and the SA diesel plant could firm a further 600-700Mw of variable renewables over and above existing operated kit. I keep hoping to see fresh assets contracted to IFN, nothing so far.
I really really want to see a battery on Capitol WF. IFN can afford it. ACT would wave through planning for the benefits it would confer. The likely hold up is the big order backlog at battery manufacturers.
Ash
IFN Price at posting:
75.0¢ Sentiment: Buy Disclosure: Held
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