REG - Atrato Onsite Energy - No impact from Electricity Generator Levy

Atrato Onsite EnergyAnnouncement

22/11/2022 07:00

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RNS Number : 1341H  Atrato Onsite Energy PLC  22 November 2022

22 November 2022

LEI: 213800IE1PPREDIIZB62

 

Atrato Onsite Energy plc
(the "Company")

 

No impact from Electricity Generator Levy

 

Atrato Onsite Energy plc (LSE: ROOF), the investment trust focusing on UK
commercial onsite solar, provides an update on the Electricity Generator Levy
outlined by the UK Government as part of the Autumn Statement 2022 ("the
Levy"). The investment adviser's initial assessment is that the Company will
not be affected by the Levy.

 

The Levy is a temporary windfall tax of 45% that will be applied to wholesale
market revenues above £75/MWh on UK low-carbon electricity generation. The
Levy will be applied from 1 January 2023 until 31 March 2028.

 

The Company's focus on long-term highly contracted solar PV systems results in
a low sensitivity to wholesale power prices. Based on the current portfolio
and pipeline, the Levy is not expected to impact the Company's target returns
or net asset value.

 

 

ENQUIRIES

 Atrato Partners                                                                                                    +44 (0)7795 975 560
 Limited

 Gurpreet Gujral

 Francisca Wiggins

 Christopher Fearon

 Alvarium Securities Limited                                                                                        +44 (0)20 7016 6711

 Mark                                                                                                               +44 (0)20 7016 6713
 Thompson

                                                                                                                  +44 (0)20 7016 6704
 Eddie
 Nissen

 Oliver Kenyon

 Kaso Legg Communications                                                                                           atrato@kl-communications.com

 Charles Gorman                                                                                                     +44 (0)20 3995 6673

 Millie Steyn                                                                                                       +44 (0)20 3995 6671

 

 

 

Notes to Editors

Atrato Onsite Energy plc is an investment company focused on onsite green
energy generation, providing new renewable energy capacity with 100% carbon
traceability to industrial and commercial counterparties. The Company focuses
on UK commercial rooftop solar, helping its corporate clients achieve net zero
and reduce their energy bills. Its shares were admitted to trading on the
premium segment of the Main Market of the London Stock Exchange on 23 November
2021. Atrato Partners Limited is the Company's investment adviser.

 

Further information is available on the Company's website, www.atratoroof.com.

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