Drax shares fall after £2bn project misses out on UK carbon cash March 30, 2023 The owner of the UK's biggest power station is racing to secure a last-ditch lifeline for its £2bn carbon capture biomass project.
Drax: Biomass energy giant which received £6bn from taxpayer reports 84 per cent earnings hike February 23, 2023 Power generation firm Drax is the latest winner from the energy price crisis, with its earnings up 84 per cent in the last 12 months to £731m. Drax, which received £6bn in green energy subsidies from British taxpayers over the last four-decades, was the latest energy giant to announce bumper profits; recent announcements include Shell [...]
Drax rules out power cuts as Unite announce nine days of strikes at energy plant February 8, 2023 There is no threat to electricity supplies to homes and businesses, argued energy giant Drax, despite Unite's calls for strikes.
Drax’s profits surge as high energy prices bolster power plant operator’s earnings July 26, 2022 Power plant operator Drax Group today said its pre-tax profits for the first half of 2022 were almost four times higher than its pre-tax profits for the same period in 2021, after high electricity prices bolstered the Yorkshire firm’s business. The North Yorkshire company – that operates the coal and biomass fired Draw Power Station [...]
Drax prepared to delay power plant closures September 23, 2021 Electricity company Drax could continue operating its power plants beyond their planned closure next year to aid energy supply. The firm – which runs a coal plant in North Yorkshire – has called generators back into action to help balance a grid experiencing tight supply. Prices of gas and electricity have hit record highs as [...]
Drax hikes dividend as power firm heads back to black July 29, 2021 Power generator Drax this morning said that it would hike its interim dividend a tenth after getting back into profit in the first half of the year. For the first half, the FTSE 250 firm reported profit from continuing operations of £84m, swinging back into the black after a £57m loss last year. Energy firms [...]
Drax signs deal with MHI to use carbon capture tech June 10, 2021 Drax Group has today announced a long-term deal to use Mitsubishi Heavy Industries’s (MHI) carbon capture technology as it seeks to make its UK plant emissions negative by 2030. By using the tech at its biomass-fired power plant in Yorkshire, Drax said it could ultimately remove more carbon dioxide from the atmosphere than is emitted across its operations. [...]
FTSE 100 closes higher as tech stocks boost Wall Street May 24, 2021 London’s FTSE 100 closed higher this afternoon after posting its second straight weekly drop, as oil majors provided the biggest boosts to the index. Wall Street also opened higher as tech stocks showed signs of bouncing back from a poor month. The blue-chip index advanced 0.5 per cent over the dat’s trading, buoyed by gains [...]
Phase out: UK to have just one coal-burning plant as EDF eyes West Burton closure March 22, 2021 UK to have just one coal-burning plant as EDF eyes West Burton closure
Drax ditches plans for gas-fired power plants in climate push February 25, 2021 British power generator Drax has abandoned plans for new gas-fired power plants as it strives to become carbon negative by 2030. The UK firm had proposed to replace its existing coal units with gas-fired alternatives, but the company backed out in a statement on Thursday. Britain is aiming to close all coal-fired power plants by [...]