Drax share price slides after it loses appeal on state subsidy August 8, 2014 Power producer Drax’s share price plummeted yesterday after it lost an appeal against the government’s decision to exclude one of its units from a new green subsidy framework. The FTSE 250 firm, which operates the UK’s largest coal-fired power plant, expected to be eligible for early contracts for difference (CfD) mechanisms so that it could [...]
New directors join Bank of England court from Experian, TalkTalk and Drax July 21, 2014 Three business heavyweights were yesterday hired as non-executive directors on the court of the Bank of England, the Treasury has announced. Controversial Experian chairman Don Roberts has been given one of the positions. He faced a shareholder rebellion earlier this month, as a series of investors objected to his move from chief executive to chairman of the credit data [...]
Drax plummets as government pulls subsidies April 23, 2014 DRAX Group made the biggest losses on the FTSE 250 yesterday, after launching legal proceedings against the government’s decision to exclude one of its units from a new green support framework. Britain’s largest coal-fired power station operator Drax expected to be eligible for early contracts for difference (CfD) mechanisms, so that it could convert its [...]
The government’s green policy will wreak havoc – and not just for Drax April 23, 2014 If the government wants to display a credible case for investment in renewables, then today was a definite step in the wrong direction. The Department of Energy and Climate Change has unveiled a list of eight renewable projects that will be eligible for contracts for difference, its new support framework for green energy generation. Coal-fired [...]
Drax Group shares rise despite 83pc profit plunge February 18, 2014 Drax Group, Britain’s largest coal-fired power station which is set to become one of the world’s biggest renewable generators, has reported a whopping 83 per cent drop in statutory profit before tax – from £190m to £32m – for 2013, because of rising carbon costs. Underlying earnings per share fell 32 per cent to 35p [...]