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Harmony Energy Income suffers near 10% NAV drop in three months
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investmentweek.co.ukAlongside its results for the year to 31 October 2023, the trust also released a NAV at 31 January 2024 of 104.06p, down 9.8% from the NAV reported on 31 October. The average revenues for GB Battery Energy Storage Systems (BESS) fell during the period, as the day-ahead market spreads contracted to £52/MWh in January, the lowest level since June 2021 and 64% lower than January 2023. This led to lower modelled revenue expectations in 2024 and 2025 for HEIT, which negatively impacted the trust's NAV during the period. The weak revenue environment for BESS led Harmony Energy Income to...
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