Thanks Starsky. I followed your lead and rang IR. Peter was very nice.
I wanted to know when IFN took operational control of Smithfield - when could it pull the gas plant levers in combination with its NSW wind farms to maximise revenues and profit?
Simply, from date of announcement and settlement, 23 May. The June production announcement will show a clear contribution from Smithfield. Peter cautioned that Sydney winter is Smithfield's peak production time, the monthly ought not be annualised and to expect 2-8% production over the year.
We holders cannot expect IFN to be instantly writing 'firming' contracts for Smithfield's entire capacity, though the announcement spelled out the strategy in detail and they will have already made considerable progress. I see major benefits in controlling the option to produce, even where it is not exercised. IFN now enjoys the luxury of staring down its rivals in NEM auctions. Do not underestimate the value of this.
June production announcement ~11 July July production announcement ~11 August FY announcement ~22 August.
BUY
Ash
IFN Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
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