SIMEC Atlantis Energy Limited (DI) (SAE)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

 0.85p
   
  • Change Today:
      0.000p
  • 52 Week High: 1.57
  • 52 Week Low: 0.75
  • Currency: UK Pounds
  • Shares Issued: 722.81m
  • Volume: 0
  • Market Cap: £6.14m
  • RiskGrade: 67

Simec Atlantis makes Planning Inspectorate submission over Uskmouth project

By Josh White

Date: Monday 24 May 2021

LONDON (ShareCast) - (Sharecast News) - Simec Atlantis Energy updated the market on the Uskmouth Power Station conversion project on Monday, reporting that it submitted a 'statement of case' (SOC) to the Planning Inspectorate on 21 May.
The AIM-traded firm said the SOC is a routine part of the 'call in' process, and addressed the matters raised in the 'call in' decision letter.

It said the Newport City Council (NCC) planning case officer previously recommended approval of planning permission for the Uskmouth project.

The SOC refers to the content of the planning officer's report, highlighting that planning permission was not being sought for the conversion itself, as a change in the fuel source from coal to waste-derived pellets did not require planning permission, and there was no change of use of the existing power station as its primary purpose would be thermal combustion to generate electricity.

Additionally, it said the SOC confirmed that the Uskmouth Power Station in planning terms remained an existing thermal combustion electricity generating station.

"The fuel pellets are specially engineered and manufactured to enable operations to continue at the Uskmouth power station for the primary purpose of generating electricity," the board said in its statement.

"There is no direct link between the operation of Uskmouth Power Station and the management of mixed municipal and residual wastes."

From a technical planning perspective, Simec Atlantis said there were no objections from statutory consultees to prevent the proposals to bring the electricity generating power station back into operation.

"The next step in the 'call in' process is for the Planning Inspectorate to conduct a review of the environmental statement for the Uskmouth Conversion Project, and Simec Atlantis Energy is looking forward to feedback in due course."

At 1533 BST, shares in Simec Atlantis Energy were up 33.23% at 8.19p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SAE Market Data

Currency UK Pounds
Share Price 0.85p
Change Today 0.000p
% Change 0.00 %
52 Week High 1.57
52 Week Low 0.75
Volume 0
Shares Issued 722.81m
Market Cap £6.14m
RiskGrade 67

SAE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
28.66% above the market average28.66% above the market average28.66% above the market average28.66% above the market average28.66% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
63.06% below the market average63.06% below the market average63.06% below the market average63.06% below the market average63.06% below the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average
Income Not Available
Growth
11% below the market average11% below the market average11% below the market average11% below the market average11% below the market average
25% below the sector average25% below the sector average25% below the sector average25% below the sector average25% below the sector average

SAE Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

SAE Key Personnel

CEO Graham Reid
CFO Simon Hirst

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