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Alkane Energy

  • BY: Andrew Hore |
  • POSTED: 28/04/2010 |

Alkane Energy says that its electricity output was 20% higher in the first quarter of 2010.

The electricity generator from coal mine methane says that prices have declined to an average of £40/MWh. Sales contracts are in place for 78% of existing capacity. Alkane has added a further generation site at Florence, Staffordshire. Two more sites are under construction.

Alkane reported a 21% increase in revenues to £6.29m in 2009. Pre-tax profit improved from £1.95m to £2.08m after a swing from an exchange gain of £495,000 to an exchange loss of £307,000.

Net debt was £1.81m at the end of 2009.

Alkane is making progress with its venture with TEG and there is cope to increase the capacity of tolling contracts with GDF.

At 16.75p a share, Alkane is valued at £15.6m.

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