Tesla’s big battery bet in Australia is paying off

first_imgTesla’s big battery bet in Australia is paying off FacebookTwitterLinkedInEmailPrint分享The Guardian:The Tesla lithium-ion battery in South Australia is on track to make back a third of its construction costs in its first year of operation, new financial documents show. The 100MW/129MWh battery was switched on in November and is paired with the Hornsdale windfarm, about 230km north of Adelaide.The French renewable energy company Neoen, which owns the battery, filed for IPO listing on the French stock exchange this month. A 400-page document filed in support of the application shows the battery, which is the largest lithium-ion battery in the world, had a capital cost of €56m or A$90.6m and generated €8.1m, or A$13.1m, in revenue from network services in the six months to 30 June 2018.Almost $2m of that was from its 10-year contract with the SA government to provide reserve capacity for the state’s electricity network, which is worth $4m a year. The rest was from trading on the frequency and ancillary services market. It also made €6.7m, or A$10.8, from the sale of stored electricity. The document does not state the project’s profit margins.The SA government contract is for 70MW of capacity and a small amount of storage, leaving 30MW and the bulk of the battery’s storage capacity available to sell on the national energy market.Dylan McConnell, from the Australian-German Climate and Energy College, said the financial returns were above the already high expectations for the project, but as more battery projects came online the rate of revenue growth could be expected to slow. “There’s a finite need for these ancillary services,” he said. “They are very important resources but it’s quite a small market in the scheme of things.”Neoen has several storage projects under way, including a 20MW battery attached to the proposed 194MW windfarm at the Bulgana green power hub in Victoria, 90% of which is contracted to the Victorian government. It is also proposing a 50MW storage facility in Kaban, in Queensland.More: South Australia’s Tesla battery on track to make back a third of cost in a yearlast_img read more

Falling coverage ratios could ‘force’ Dutch schemes into fixed income

first_imgFalling coverage ratios could force Dutch pension funds to increase their fixed income allocations to reduce risk, according to AXA Investment Managers.Speaking at a recent conference organised by IPE sister publication Pensioen Pro, Hanneke Veringa, country manager AXA IM, noted that fixed income investments had risen sharply between 2007 and 2011 but remained unchanged since then.She said interest rates posed the largest risk for pension funds, “as a movement of a single percentage point has a 10-percentage-point effect on a scheme’s funding on average”.In her opinion, the sector has focused too much on cost-cutting and simplifying arrangements in recent past years rather than creating a safety net for sharply dropping funding ratios. She said pension funds should visualise their risk management through a “risk grid”, showing the relationship between funding and the securities in their investment portfolios.“Make clear what the chances are so that coverage drops within a year by 5 percentage points to less than 95%, and decide how the asset allocation should be adjusted to avoid the pain barrier,” she said.Veringa said the outlook for risk-bearing investments was “not promising” over the next 18 months, with only credit scoring a plus, and the expectations for government bonds being the worst.“Currently, AXA is replacing government bonds with credit,” she said.In her view, Dutch pension funds should review their estimates for future returns and develop scenarios based on long-term low interest rates, “as everything is to change”.Also speaking at the conference, Canadian pensions expert Keith Ambachtsheer recommended splitting pension funds into an accrual scheme and a benefits plan, which, respectively, should focus on generating returns for active participants and offering security to pensioners.“The elements of accrual and benefits combined in the current schemes are contradictory, and are the reason why both active participants and pensioners are dissatisfied,” he said.In Ambachtsheer’s opinion, the accrual scheme should invest predominantly in equity, whereas the payment one should aim at investments that match liabilities, adding that over-50s should gradually move from the accrual fund to the benefits scheme.Ambachtsheer also said the 70% replacement ratio of the average salary – a common aim of Dutch pension funds – could be lowered, “as several studies in Canada have suggested 50% is often sufficient to continue the desired life style”.He added: “A much lower target accrual would make pensions much more affordable. Key is finding the percentage that matches a pension fund’s target group.”last_img read more

MGA states zero tolerance approach to crisis marketing

first_img Share StumbleUpon Submit Related Articles Share Soft2Bet continues new market drive with Irokobet launch August 26, 2020 TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Better Collective cautious on quick recovery as COVID drags growth momentum August 25, 2020 The Malta Gaming Authority (MGA) has reminded all licensed incumbents of their duties in ensuring that ‘responsible commercial communications’ are thoroughly maintained during the ongoing global COVID-19 crisis.Writing to operators, the MGA demanded that that responsible communications and engagements are upheld with consumers who have been forced into lockdown or isolation by their national governments.It said: “We remind all licensees that, in accordance with the ‘Commercial Communications Regulations’ to which they are subject, all commercial communications must be socially responsible, especially in light of the current situation.”Issuing a firm warning, the MGA stated that it will take a zero-tolerance approach to any operator that communicates ‘directly or indirectly’ COVID-19 led messaging as a means to communicate with customers.Furthermore, the MGA reminded operator marketing teams that conditions of its communications code must be upheld, with incumbents ensuring that messaging does not:encourage antisocial behavioursuggest that gaming can be a resolution to social, educational, personal or professional problemssuggest that gaming can be an alternative to employmenta solution to financial concerns or a form of financial investmentportray gaming as socially attractive orsuggest that solitary gaming is preferable to social gamingThe MGA urged operators to make sure that affiliates, agencies and marketing partners are aware of its commercial communications requirements during this time of crisis.Closing its statement, the MGA recognised the difficulties faced by incumbents operating during a period in which staff have been forced to work from home, adding that protection of consumers remains the authority’s top priority.last_img read more

Sumner County Sheriff weekly jail bookings: May 2 to May 4, 2015

first_imgDurham, Robert B.50Wichita, KS300 E 18th St, Wellington, KSWPDDUI/TOC/Refusal to submit test4/29/15 Harper, Tamara32Wichita, KS2000 N. H St, Wellington, KSWPDDriving while license cancelled5/2/15 Monday 0600  to  Monday 0600  WEEKLY   BOOKINGS 4/27/2015 thru 05/04/2015          Becknell, Chauncy C.25Wichita, KS610 E Hillside, Wellington, KSSUSOServing sentence4/27/15 Flemming, Andrew S.31Wichita, KS610 E Hillside, Wellington, KSSUSOServing sentence5/1/15 Wood, Joshua J.39Haysville, KSSedgwick County JailSGSOFTA4/28/15 Russell, Aaron S.21Wellington, KS801 W Harvey, Wellington, KSWPDCriminal damage to property5/2/15 Fleming, Everett G.34Wellington, KS900 N Plum, Wellington, KSWPDDomestic battery/ Criminal trespass4/28/15 Dick, Jason C.41Wichita, KSSedgwick County JailSGSOProbation violation5/1/15 Byers, Jami C.36Wellington, KSPoplar St. & 8th St., Wellington, KSFTAFTA4/29/15 Hurt, Paul H.42Wellington, KS501 N Washington, Wellington, KSSUSOServing sentence4/30/15 Helton, Seth W.22Wellington, KS200 E 30th, Wellington, KSSUSODUI/License Restrictions/ Duty to report accident4/30/15 NameAgeHome TownArrest locationAgencyChargesArrest date Tammany, Brandon M.28Derby, KS100 S Drury Rd., Wellington, KSSUSOPoss of para; Poss of opiate; License to be carried and exhibited upon deman; Poss of opiate; Poss of opiate5/4/15 Saunders, Joseph S.61Wellington, KS500 W. Harvey, Wellington, KSWPDDUI5/1/15 Lira, Cory W.33Wellington, KS1000 W 8th St, Wellington, KSWPDPoss of opiate/Use possess  para4/30/15 Schuttler, Jennifer R.28Wichita, KS610 E Hillside, Wellington, KSSUSOServing sentence5/3/15 Ford, Justin L.41Wichita, KS610 E Hillside, Wellington, KSSUSOPV4/28/15center_img Parks, Angela M.30Hutchinson, KS610 E. Hillside, Wellington, KSSUSOServing sentence5/1/15 Bruce, Charles D.27Great Bend, KS211 N 2nd St., Mulvane, KSMPDViolation of protection order5/1/15 Finney, Gregg A.39Wellington, KS610  E Hillside, Wellington, KSSUSOPV4/28/15 Kent, Bobby   J.35Wellington, KS501 N Washington, Wellington, KSSGSOProbation violation5/1/15 Corley, Heather N.24Wellington, KS1408 N Washington, Wellington, KSWPDSedgwick County Warrant4/30/15 Thomas, Dennis E.59Conway Springs, KS215 N 5th St, Conway Springs, KSCSPDDUI5/2/15 Sumner Newscow report — The Sumner County Sheriff Office report for May 2 to May 4, 2015 weekly jail bookings are as follows: Shugart, Steven D.26Wichita, KS610 E Hillside, Wellingtonn,  KSSUSOServing sentence5/1/15 Williams, James A.43Oxford, KS516 S Illinois, Oxford, KSOXPDCriminal threat4/30/15 Doll, James E.33Conway Springs, KS111 N. 8th St, Conway Springs, KSCSPDBurglary/ Theft of prop serv5/1/15 Coleman, Kirk D.45Wichita, KSSedgwick County JailSGSOServing sentence4/30/15 Black, Amanda L.32Wichita, KSK-53/Boxelder St, Mulvane, KSMPDProbation violation5/2/15 Brown, Richard C36Wellington, KS610 E Hillside, Wellington, KSSUSOServing sentence 05-01-15 Awunglefac, Napoleon27Wichita, KSKTA I-35 MM11, Wellington, KSKHPWarrant arrest5/2/15 Sparkman, Lisa M.35Wichita, KSI-35 MM33KHPDriving while habitual violator/ Operate vehicle w/out liability ins5/1/15 Crisman, Neal C40Oxford, KS100 S Perth Rd, Wellington, KSSUSOVehicles; unlawful act registration; DWS; Oerate vehicle w/out liability insurance5/3/15 Avery, Derrick J.22Wellington, KS1019 Shady Lane, Wellington, KSWPDFTA/Criminal damage to property4/27/15last_img read more