Spark Infrastructure: Result 2014

Electricity volumes continue to slide and a decline in unregulated revenue led to a mediocre year.

We would prefer Spark Infrastructure’s management focus on empire improvement rather than empire expansion. Spark is facing fewer opportunities to grow its regulated asset base due to a crackdown on ‘gold plating’ and the increasing popularity of solar power reducing peak demand – the few times in a year that contribute almost all of a network’s profit.

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