Drax Group tackles tough trading conditions
Power station operator Drax Group said trading in its market has remained challenging although expectations for 2015 remain unchanged.
Drax
Capture Power said it remains committed to White Rose CCS project
Capture Power said it would retain its commitment to the delivery of the White Rose Carbon Capture and Storage (CCS) project after one of the consortium members pulled out. Drax said it was pulling out of the major scheme to develop technology to store emissions amid concerns over Government green policy changes. The company blamed the “drastically different financial and regulatory environment” which has seen the wholesale price of electricity drop and moves by the Government to rein back support for low carbon technology.
Drax pulls out of carbon capture scheme
Drax power company has announced it is pulling out of a major scheme to develop technology to store carbon emissions, amid concerns over Government green policy changes. The firm said it would complete the feasibility study on a carbon capture and storage (CCS) project to catch up to 90% of emissions from a power station and store them permanently under the North Sea, but would not invest any further in the “White Rose” scheme. Drax blamed the “drastically different financial and regulatory environment“ which has seen the wholesale price of electricity drop and moves by the Government to rein back support for low carbon technology.