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Friday 12 October, 2018

Lake Acqs Limited

NPN Quarterly Disclosure

RNS Number : 9483D
Lake Acquisitions Limited
12 October 2018
 

12 October 2018

Lake Acquisitions Limited

Quarterly information statement for 1 July 2018 to 30 September 2018 inclusive ("Q3 2018")

The following information is provided by Lake Acquisitions Limited as issuer of the CVRs to which the Nuclear Power Notes are linked, in satisfaction of its disclosure obligations under the Conditions of the CVRs but is not directly relevant to the calculation of any payment due under the CVRs or the Nuclear Power Notes, for the reasons described below.

1. Month Ahead Prices

Month Ahead Prices in respect of Q3 2018

·     July 2018

·     August 2018

·     September 2018



: 53.44 GBP/MWh¹
:
56.47 GBP/MWh¹
:
62.75 GBP/MWh¹

2. Contribution to Eligible Nuclear Output

Contribution to Eligible Nuclear Output in respect of Q3 2018                                         

 

: 15.7 TWh²

Cumulative Contribution to Eligible Nuclear Output in respect of the calendar year 2018 (1 January 2018 to 30 September 2018 inclusive)

: 45.9 TWh²

3. Likely maximum theoretical output before unplanned losses

Likely maximum theoretical output before unplanned losses for the EDF Energy Nuclear Generation Fleet in respect of the period from 1 October 2018 to 31 December 2018 inclusive

 

: 15.4 TWh3

4. Total quantum of planned power outages4

Total quantum of planned power outages for the EDF Energy Nuclear Generation Fleet in respect of the period from 1 October 2018 to 31 December 2018 inclusive

The total comprises:

·   Planned power outages of approximately 3.9 TWh3 attributable to restrictions, statutory outages and refuelling

·   Planned power outages of approximately 1.1 TWh3 attributable to boiler restrictions at Hunterston B, Hinkley Point B and Heysham 1 Reactor 1

·   Other planned power outages of approximately 1.5 TWh3

 

 

: 6.5 TWh3

Investors should note that for the purposes of calculating the Yearly Payment on the CVRs:

·   The Contribution to Eligible Nuclear Output figure disclosed in each quarterly information statement is a preliminary figure. The final figure for the Eligible Nuclear Output for the relevant year will be set out in the Payment Calculation Notice, is subject to a cap of 65 TWh in any calendar year, and may not be equal to the sum of the contribution to Eligible Nuclear Output figures disclosed in each quarterly information statement for the relevant calendar year.

·   The likely maximum theoretical output before unplanned losses for the EDF Energy Nuclear Generation Fleet in respect of the period from 1 October 2018 to 31 December 2018 inclusive is an indicative figure representing likely maximum output after taking into account known capacity of each power station in the EDF Energy Nuclear Generation Fleet and planned power outages as at the date of this announcement.  The likely maximum theoretical output is therefore stated before any unplanned losses that may arise subsequent to the date of this announcement.  Accordingly, this theoretical figure may be different from the actual Eligible Nuclear Output in respect of this period.

·   The total quantum of planned power outages for the EDF Energy Nuclear Generation Fleet in respect of the period from 1 October 2018 to 31 December 2018 inclusive is an indicative figure based on planned power outages known as at the date of this announcement.  The total quantum of planned power outages is therefore stated before any unplanned losses that may arise subsequent to the date of this announcement. Accordingly, this indicative figure may be different from the total quantum of actual planned power outages in respect of this period.

For further details, including in respect of the calculation of the Yearly Payment on the CVRs, please see the Terms and Conditions of the Nuclear Power Notes and the Terms and Conditions of the CVRs which are set out on pages 65 to 120 of the prospectus for the Nuclear Power Notes issued by Barclays Bank PLC on 5 November 2008 ("Prospectus"). A supplement to the Prospectus was issued by Barclays Bank PLC on 10 February 2009.

In this announcement, capitalised terms that are not defined have the meaning set out in the Prospectus.

Contacts:

Media Enquiries

01452 652233


Davina Ferrier

020 8935 2883

(Financial Communications)

 

Notes:

(1)   Source - ICIS Heren European Daily Electricity Markets

(2)   This number is rounded

(3)   This number is an indicative figure only and is rounded

(4)   Planned power outages include load restrictions


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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