Mast Energy Developments PLC, the UK-based multi-asset owner and operator in the rapidly growing Reserve Power market wish to announce the correction of a typing error with regards to the most recent trading update (see RNS 3310D dated 19 October 2022) of its current flagship producing asset, the 9 MW Pyebridge Synchronous Gas-powered Flexible Generation Facility (the "Site" or "Pyebridge").
In the aforementioned RNS, the Total Electricity Generation Output and Average Electricity Generation Sales Price achieved per MWh sold for the month of August 2022 were erroneously stated as "c. 1,420 MWh" and "c. £619" respectively and should have read c. 486 MWh and c. £646. For the avoidance of doubt, all other information and numbers stated in the aforementioned RNS remains unchanged and correct, most notably the Electricity Generation Sales Revenue for the month of August 2022 of "c. £314,000".Both the corrected Total Electricity Generation Output and Average Electricity Generation Sales Price achieved per MWh sold for the month of August 2022, are significantly higher, compared to the associated monthly average achieved during the 6-month period March to August 2022, being c. 380 MWh and c. £370. MED's revenue and profit margin guidance also remains as stated in the RNS of 19 October 2022.
