Bloomberg reported that Australian investment bank Macquarie has bought two natural gas-fed power stations in the U.K., believing that profits are set to rise after an extended period of decline.
As quoted in the market report:
Macquarie purchased the 540-megawatt Baglan Bay plant in Wales from General Electric Co. in October, Nicole Grove, a spokeswoman for the bank in London, said by e-mail yesterday. It acquired the 819-megawatt Sutton Bridge facility in eastern England from Electricite de France SA last month. The profit from burning gas next month, known as the clean-spark spread, fell 21 percent last year after dropping 48 percent in 2011 and 29 percent in 2010, according to data compiled by Bloomberg.