Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Power Assets Holdings Limited
  6. News
  7. Summary
    6   HK0006000050

POWER ASSETS HOLDINGS LIMITED

(6)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

UK Energy Watchdog Unlocks GBP300 Million Investment to Upgrade Local Distribution Networks -- Update

05/24/2021 | 03:01am EDT

--Ofgem delivers a GBP300 million down payment to speed up projects across Britain's power-distribution networks

--The money is part of a wider GBP40 billion investment package to achieve net zero in the U.K.

--The projects will support more than 3,500 new electric-vehicle charging points

By Jaime Llinares Taboada

Ofgem said Monday that it has approved 300 million pounds ($424.5 million) in investments to upgrade Britain's local energy-distribution networks.

The regulator of Britain's power and gas sectors said the investment will fund 204 projects in England, Scotland and Wales to support clean transport and heat, and open up local grids to take on more low-carbon electricity generation.

In particular, the money will support the installation of 1,800 ultra-rapid electric-vehicle charging points at motorway service areas and 1,750 points in towns and cities.

Around half of the money, GBP144.8 million, is funding that Ofgem allocated as part of the last power-network price control and that companies didn't spend. The other GBP155.7 million is money that will be passed to consumers over the following years.

The investment will be delivered in the next two years, and is part of a bigger plan to upgrade the U.K.'s energy infrastructure amid efforts to achieve net-zero emissions. This wider investment package is expected to total around GBP40 billion.

Britain's distribution companies include Electricity North West Ltd., Northern Powergrid, Scottish and Southern Energy Networks, SP Energy Networks, U.K. Power Networks and Western Power Distribution.

"In the year that Glasgow hosts the COP26 climate summit, the energy networks are rising to the challenge and working with us and partners to accelerate projects that can start now, benefiting consumers, boosting the economy and creating jobs," Ofgem Chief Executive Jonathan Brearley said.

"Following a successful call for evidence, in which local authorities, developers and other parties stated the case for extra network capacity to receive investment, Britain's energy networks will now accelerate funding over the next 12-24 months," the Energy Networks Association said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

05-24-21 0501ET

Stocks mentioned in the article
ChangeLast1st jan.
BERKSHIRE HATHAWAY INC. -0.73% 420746.125 Delayed Quote.21.82%
CK INFRASTRUCTURE HOLDINGS LIMITED 0.85% 47.6 End-of-day quote.14.29%
DJ INDUSTRIAL -0.83% 34827.27 Delayed Quote.13.83%
IBERDROLA, S.A. -0.39% 10.23 Delayed Quote.-12.22%
NATIONAL GRID PLC -0.06% 927.3 Delayed Quote.7.27%
POWER ASSETS HOLDINGS LIMITED 0.90% 50.5 End-of-day quote.20.24%
SOUTHERN ENERGY HOLDINGS GROUP LIMITED 0.00% 0.68 End-of-day quote.0.00%
SSE PLC 4.02% 1525 Delayed Quote.-2.27%
All news about POWER ASSETS HOLDINGS LIMITED
05/24UK Energy Watchdog Unlocks GBP300 Million Investment to Upgrade Local Distrib..
DJ
05/17POWER ASSETS HOLDINGS LIMITED : Ex-dividend day for final dividend
FA
05/12POWER ASSETS : Appointments of Non-executive Director, Independent Non-executive..
PU
05/12Power Assets Holdings Limited Announces Appointments to Board
CI
05/12Power Assets Holdings Limited Declares Final Dividend
CI
04/01LETTER TO NEW SHAREHOLDERS : (1) Annual General Meeting; and (2) Election of Lan..
PU
04/01Power Assets Holdings Limited Recommends Final Dividend, Payable on 1 June 20..
CI
04/01POWER ASSETS : Circular on proposed general mandates to issue new shares and to ..
PU
04/01POWER ASSETS : Notice of 2021 Annual General Meeting
PU
04/01POWER ASSETS : Proxy Form for use at the 2021 Annual General Meeting
PU
More news
Financials
Sales 2021 1 276 M 164 M 164 M
Net income 2021 6 680 M 859 M 859 M
Net cash 2021 363 M 46,7 M 46,7 M
P/E ratio 2021 16,4x
Yield 2021 5,58%
Capitalization 108 B 13 857 M 13 861 M
EV / Sales 2021 84,2x
EV / Sales 2022 81,2x
Nbr of Employees 13
Free-Float 64,0%
Chart POWER ASSETS HOLDINGS LIMITED
Duration : Period :
Power Assets Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends POWER ASSETS HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 50,50 HKD
Average target price 51,28 HKD
Spread / Average Target 1,55%
EPS Revisions
Managers and Directors
Chao Chung Tsai Chief Executive Officer & Executive Director
Kee Ham Chan Chief Financial Officer
Kin Ning Fok Chairman
Ralph Raymond Shea Independent Non-Executive Director
Yuk Keung Ip Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
POWER ASSETS HOLDINGS LIMITED20.24%13 734
NEXTERA ENERGY2.94%155 803
ENEL S.P.A.-7.03%92 698
DUKE ENERGY CORPORATION16.44%82 006
IBERDROLA, S.A.-12.22%75 187
SOUTHERN COMPANY4.31%67 902