Infinis Energy up on first quarter update

Shares in Infinis Energy rose after the company said power generation was up by 14GWh to 586GWh.

At 0829 BST shares in the renewable energy company were up by 1.5% to 135p.

Infinis said day ahead pricing and operating costs were in line with expectations, and said its operational performance meant it would meet management expectations for the full year.

The company has already said the removal of climate change subsidies would reduce its earnings in the current financial year by £7.5m.

Landfill gas output was down by 6%, which the company said was due to a combination of the natural decline in landfill gas, drier weather conditions and planned full grid outages at two of our larger sites initiated by the local network operators which lasted for 11 days.

The company’s onshore wind business exported 152 GWh in the three months to 30 June 2015, which was an increase of 46% from the same period last year.