Mast Energy Developments PLC (LSE:MAST) reported record revenues for its Pyebridge power generation asset, in Derbyshire, for the month of September.
Preliminary figures show revenues of approximately £86,000, marking a significant high for the 8.1 MW flexible power project.
In addition, August revenues were revised upward by 12% to £51,000 after accounting for embedded benefits.
For the third quarter, MAST's average revenue per megawatt reached around £22,000, with an average gross profit margin of 56%.
The company also receives approximately £25,000 monthly from its Capacity Market contract, boosting its financial performance.
Pyebridge has already turned cash flow positive, supported by strong electricity sales that exceeded market performance by 49% in September.
MAST continues to make progress on refurbishing a second 2.7 MW genset and has applied for a contract to secure the site’s full 8.1 MW capacity.
"Pyebridge's increasing positive performance is a testament to the critical need for flexible power generation in the UK," said CEO Pieter Krügel.
"With the UK's last coal power station officially permanently switched off on 30 September, making Britain the first major developed country to end the use of coal for generating electricity, the need for flexible power generation has become even more important as the transition to renewables pick up pace."