2023 October update
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Here is the market capitalisation of the index as of 23rd October 2023:
| Market cap (mil.) | Market ratio | |
|---|---|---|
| LON:ATOM | £33.02 | 0.3% |
| LON:BSIF | £682.38 | 7.0% |
| LON:CWR | £399.14 | 4.1% |
| LON:FSFL | £524.92 | 5.4% |
| LON:GOOD | £42.21 | 0.4% |
| LON:GRID | £509.22 | 5.2% |
| LON:GSF | £326.39 | 3.3% |
| LON:HEIT | £169.21 | 1.7% |
| LON:HGEN | £65.58 | 0.7% |
| LON:ITM | £417.51 | 4.3% |
| LON:NESF | £467.34 | 4.8% |
| LON:ORIT | £477.93 | 4.9% |
| LON:ROOF | £108.04 | 1.1% |
| LON:TRIG | £2,489.31 | 25.5% |
| LON:UKW | £3,056.06 | 31.3% |
| Total | £9,768.25 | 100.0% |
The current (very rough) composition of the index by investment type is: 41% wind, 28% solar, 21% battery, 9% hydrogen. I’ve calculated this by (very hastily) having a look at what the companies say they invest in. If a company says they invest in wind, solar and hydrogen for example, then they get an even share of 33% for each and I then weigh that with the company’s market cap.
And for comparison, here was the index three months ago on 21st July 2023:
| Market cap (mil.) | Market ratio | |
|---|---|---|
| LON:UKW | £3,373.39 | 28.3% |
| LON:TRIG | £2,960.43 | 24.8% |
| LON:CWR | £829.07 | 7.0% |
| LON:GRID | £773.00 | 6.5% |
| LON:BSIF | £749.90 | 6.3% |
| LON:ITM | £604.39 | 5.1% |
| LON:FSFL | £603.86 | 5.1% |
| LON:NESF | £569.19 | 4.8% |
| LON:ORIT | £524.25 | 4.4% |
| LON:GSF | £480.44 | 4.0% |
| LON:HEIT | £217.13 | 1.8% |
| LON:ROOF | £126.60 | 1.1% |
| LON:HGEN | £68.29 | 0.6% |
| LON:ATOM | £37.38 | 0.3% |
| Total | £11,917.32 | 100.0% |
Additions & Removals
During the past quarter, I found out about Good Energy and decided to add it to the index. They are mostly a distribution company now, but they only provide green energy. They previously had some generation assets which have since been sold off. They’re also dabbling in electric car charging infrastructure it seems.
Performance
The performance for the past quarter was abismal. Ignoring the addition of the Good Energy company, the index fell from £11,917 mil. to £9,726 mil. That’s an 18% drop.
The hypothetical portfolio of £10,000 that I started with in April would now be worth £8,365. It has been re-balanced roughly monthly using a spreadsheet.
The big movers were:
- GOOD which gained about 50% since I added it to the index one month earlier, this seems to be due to better than expected results. This didn’t make any difference to the portfolio due to the tiny market ratio and index weight of only 0.4%
Mostly everything else either stayed still or went down. I thought this was mostly caused by the Government’s “energy security disaster”. That was the only news that I thought correlated with the fall of this index. Although, strangely, even stocks which are pure solar such as NESF and BSIF went down considerably during the period.