Mast Energy Developments Reports Record High January Revenues
Why we think this is good
The RNS announcement highlights several positive factors, including record high trading revenues and electricity sales prices at the Pyebridge asset, successful completion of genset refurbishments to double the site's capacity, and progress on funding agreements to support the company's growth strategy. These factors suggest the company is making strong operational progress and has a positive outlook.
Key Points
- Record high preliminary trading revenue of c. £201,000 for January 2025 at Pyebridge asset
- Record high average electricity sales price per MWh of c. £200, outperforming market average by 69%
- Final trading revenue for December 2024 increased by 8% to c. £83,000 following receipt of Embedded Benefits
- Average trading revenue per MW in production per month of c. £26,500 for July 2024 to January 2025 period
- Successful completion of 2nd 2.7MW genset refurbishment, doubling Pyebridge's trading revenue generation capacity to 5.4MW
- Planning completion of 3rd and final 2.7MW genset refurbishment to bring full 8.1MW capacity into production
Summary
Mast Energy Developments PLC (MED) reported record high preliminary trading revenue of c. £201,000 for January 2025 at its Pyebridge flexible power generation asset, before receipt of Embedded Benefits. The company also achieved a record high average electricity sales price per MWh sold of c. £200 during the month, outperforming the market average price of c. £118 by 69%. Following the successful completion of the 2nd 2.7MW genset refurbishment, Pyebridge now has 5.4MW in optimal commercial production, effectively doubling the site's trading revenue generation capacity. MED is planning the completion of the site's 3rd and final 2.7MW genset refurbishment, which will bring the full 8.1MW generation capacity into optimal commercial production.