scc
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Post by scc on Aug 10, 2018 6:59:27 GMT
They are in a bit of an awkward position, aren't they? They want (and I would suggest - need) to be transparent with lenders while likely not wanting to reveal anymore of their hand to Offgem or prejudice any future options. The shift in tone is perhaps the most interesting thing about the communication.
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scc
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Post by scc on Jul 27, 2018 11:16:54 GMT
I was able to set the rolling rate for some newly added funds this morning. It's the reinvestment settings that still need updating.
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scc
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Post by scc on Jul 27, 2018 11:10:28 GMT
Abundance halted trading of at least one debenture related to this one so that's probably why you aren't seeing any offers in the marketplace.
As for pitchforked crowds, my guess is that will happen if it becomes clear all other routes have failed and whatever losses become real. Then I would expect to see letter writing to MPs, press coverage etc.
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scc
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Post by scc on Jul 12, 2018 23:07:48 GMT
My suspicion is that the rules were always open to interpretation - and that Ofgem has decided to tighten up on their application. Or that M*** V**** CHP pushed their luck. Might not even be the actual application which caused a closer examination, but the number and size of them in a particular locality.
As I've previously suggested, there could be a paper/electronic trail in Ofgem on any tightening and a FOI request would likely unveil it. I'd consider making the request myself, but wouldn't exactly know how to frame it or know if would be any use in "negotiations".
But for the moment, any future CHP projects must be off the table which might be exactly what was hoped for by the powers that be.
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scc
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Post by scc on Jul 10, 2018 12:14:42 GMT
Contagion. I wondered if that might happen.
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scc
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Post by scc on Jul 2, 2018 10:35:09 GMT
So, playing devil's advocate, why wouldn't you invest, say, £10k in each project, and then list it all on the SM where it looks like you are likely to get a 105-110% return after a 2 month holding period? Assuming you can sell of course.... Nothing, and I suspect a few on the secondary market are doing just that. It seems a lot more lively than a few years ago. I suspect your return after a couple of months is closer to 105% than 110% though. But there is always the chance you get left holding the bag - especially now Abundance are doing more multi-million pound debentures (previously they were often just a few hundred thousand). I have bought one debenture on the secondary market for less than 100% of the original purchase price.
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scc
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Post by scc on Jun 29, 2018 16:41:51 GMT
I would like to be positive about this project because I like local CHP but it is totally dependent on OFGEM and I see very little chance of the decision being reversed. IME sale of assets such as this from distressed companies usually results in recoveries that barely cover the costs of the entity burying the corpse. I wonder if there is a connected company that may be able to take the rusty old mothballed obsolete machinery off our hands? Well, I guess there are a few very similarly named debentures offered via Abundance....
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scc
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Post by scc on Jun 29, 2018 12:44:05 GMT
Surely, can't be as bad as a complete loss. From the original offer doc, more than half of the cash went on actual equipment which presumably has some 2nd hand value - plus they've already paid out some of the interest that was due.
But yeah, not great though.
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scc
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Post by scc on Jun 7, 2018 14:23:33 GMT
I admit I'm a bit confused why it costs circa £140K per house/flat for a new build in Merseyside. Someone's making some serious dollar on this, but I don't think it'll be the abundance investor.
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scc
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Post by scc on Jun 1, 2018 17:49:26 GMT
Another update of waiting to hear from Offgem's legal team.
Anyone getting suspicious that Offgem are simply hoping they'll starve them out?
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scc
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Post by scc on May 25, 2018 17:58:19 GMT
Good effort, but a carefully worded freedom of information request may yield better results. They won't give you any information that involves data protection with third parties or commercially confidential info but...
I wonder what asking for copies of any emails/meeting notes from the last six months relating to changes in how they are applying eligibility criteria might surface.
My suspicion is what one or both parties have interpreted and applied the eligibility criteria differently from previously.
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scc
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RateSetter (RS)
MR only?
May 13, 2018 9:30:08 GMT
Post by scc on May 13, 2018 9:30:08 GMT
I think it's very likely they'll scrap the ability to set your own rate. The ability to do it is getting harder and harder to find with each iteration of the already confusing user interface*. If necessary, it'll come with a rebrand to something like RS. The rolling market is still a convenient place to dump some spare cash for a few weeks, but nothing more than that to me anymore. *the UI really is , isn't it? I can't think of another service that always logs you into to a refer a friend screen offer with no obvious ability to get rid of it.
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scc
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Post by scc on May 10, 2018 14:18:01 GMT
Personally, I'm expecting some compromise solution either a yes with conditions, or a no, but open to appeal if they can do x/y/z.
Of course, it could just be that Offgem are trying to figure out if they can live with the resulting sh*tstorm a No answer might bring. Doubtless this would not be the only project affected.
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scc
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Post by scc on May 2, 2018 13:16:46 GMT
China is such a large nation that one sound bite viewpoint is likely to be inevitably unrepresentative. Particularly given their very different culture, history and aspirations.
I suspect they much do want to leave a bigger cultural and economic impression on world than they currently do. That's probably not great news if you are an arguably fading superpower like the US. And personally, while we have plenty to do on the same fronts in the West, I find the grasping materialism and unsubtle nationalism of the Chinese I meet rather depressing if wholly understandable.
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scc
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Post by scc on Apr 11, 2018 19:31:20 GMT
There have been hints of more stuff in the pipeline, but nothing concrete. I think one of their communications relating to paying interest on any sums in the ISA until the summer suggested there would be more debentures before then.
And, of course, we are still waiting to see what happens with one that is waiting on approval. Depending on what they end up doing, they will have start raising money for that one pretty soon!
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