Trading Performance
Since publishing our half year results on 2 August, trading conditions in the commodity markets in which we operate have been relatively stable, and we have taken advantage of some better dark green spreads during the period to strengthen our contracted position.
We have also benefited from continued good operating performance. The plant's reliability and flexibility allow us to participate in the real-time electricity trading market, managed on a daily basis by National Grid through the Balancing Mechanism, and we have been particularly active in this market during the period.
As a result, we now anticipate that full year EBITDA and underlying earnings per share for 2011 will be towards the top of the range of market forecasts.
