This may be of interest.ERM Power presentationRoger LeaningBy...

This may be of interest.

ERM Power presentation
Roger Leaning
By Roger Leaning, 17 September 2013, 3:15 PM
Director of Research, Senior Analyst
Sectors Covered: Resources, Energy, Utilities and Resource Services

ERM Power Ltd (EPW) presented at our morning meeting today. We retain our high conviction call on ERM on the back of expectation of continued strong earnings growth from increasing business electricity sales market share.
Key reasons to buy:

Despite market noise around a potential bid for the NSW Government owned MacGen (which we believe will be unsuccessful or great value), our view is that SME electricity sales will be the primary growth driver over the next 12 to 24 months remains unchanged.
Probable SME contract award announcements over the next six months remain the primary share price catalyst, in our view.
We retain our high conviction call on EPW with an expectation that its return on equity will increase toward 20% over the next three years and it will continue to pay a good dividend.

If you are interested in ERM Power Ltd, please contact your nearest Morgans office.

http://www.rbsmorgans.com/Blog/2013/September/ERM-Power-presentation.aspx