Renewables power Drax group to strong 2024 results
Drax Group has hailed strong operational and financial performance in 2024, driven by increased renewable energy generation.
Drax Group
Drax to pay £25 million for misreporting biomass data
Drax Group Plc will pay £25 million ($32.9 million) after UK regulator Ofgem found that the company had misreported data about the biomass it burns in its power plant.
Biggest UK carbon emitter Drax receives £550m in green subsidies per year
The Drax power station in Yorkshire receives £550 million per year in green subsidies despite being the largest single carbon emitter in the UK, a report has found.
Drax hands £300m to shareholders while waiting for subsidy
Drax is seeking to invest in bioenergy with carbon capture, use and storage (BECCS) technology at its main power-generation site but is looking to the UK government for a subsidy "bridge"
Drax rises on earnings beat, while biomass decision in limbo
UK electricity generator Drax Group rose sharply after earnings beat analyst expectations, although questions remain around the outcome of a government consultation on continued biomass subsidies.
UK subsidies for fossil-fuel power plants swell to record
The UK will continue to subsidize fossil-fuelled power plants into the second half of this decade with operators paid a record fee to stay open.
UK approves Drax plans for bioenergy CCS project in Yorkshire
Carbon emissions captured from the Drax Power Station bioenergy units will be stored offshore as part of the Northern Endurance Partnership CCS project led by BP and Equinor.
Cruachan power station expansion project on hold – until housing and traffic conditions are met
Argyll and Bute Council is objecting to a £500million proposal for a second power station at Cruachan Dam, Loch Awe.
Utility shares rise as UK spares firms from windfall tax
Shares in UK utilities climbed after the government said it wouldn’t extend a windfall tax to power generators.
Report: Deployment of biomass and CCS at Drax Power Station could save UK billions
The deployment of biomass with carbon capture and storage (BECCS) at Drax Power Station could save the UK billions of pounds over the coming decade.
Drax to abandon plans to build large-scale UK gas plant
Drax Group Plc will shelve its plans to build a large-scale gas plant as the utility seeks to exit coal and position itself as a green generator, according to a person with knowledge of the matter.
Green energy technologies could create 50,000 jobs in Yorkshire
Cutting-edge green energy technologies in the Yorkshire and Humber region could create thousands of jobs and boost the economy, according to a report for the owner of the UK's largest power station.
UK firms prepare for UK Gov decision on $1bn carbon-cutting infrastructure
British companies are preparing for the UK government to decide how to spend more than $1 billion on infrastructure capable of capturing and burying millions of metric tons of carbon dioxide pollution.
Drax pledges to be ‘world’s first’ carbon negative energy firm by 2030
Drax is aiming to become "carbon negative" by 2030, in what the company claims is a world-first move to tackle climate change.
One in three businesses hit by power cuts in 2019, new study claims
One in three businesses has been hit by power cuts in the past year, highlighting how the UK's electricity supply has become "unreliable", a new study suggests.
New net zero hub could cut carbon and safeguard jobs, Equinor and Drax claim
Creating the "world's first net zero carbon industrial cluster" could help protect thousands of jobs and make a major impact to cutting emissions, its backers said.