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markets are flat today and slightly up....not sure what screen you are looking at
this is going lower and lower every day.....bad news re bbc programme allied to post below on gov on energy potential capping. gov looking to cut costs too.
I am not buying at present as heavily invested but look undervalued to me. May consider topping up if it drops further.
Markets taking a battering again.
Saying that could be a good opportunity there’s a lot of stock about now well under value including this. Some potential 20-40% gains. Think drax will drop some more than I’m all in to top up my portfolio.
Anyone else buying at this level?
No idea how this has opened up this morning, significant rumors' that the UK Gov will cap revenue at £60/mwh for renewable generators is a death sentence for privatized electricity generation in the UK. The government is effetely nationalizing all assets without the hassle of having to manage the operations. If this is implemented then many many firms will bust and private infrastructure investment in the UK will be trashed for decades.
Not sure what the other 3 units get on ROCs, but Drax 1 CfD strike price is currently £118.54/MWhr. Winter Baseload reference price announced today, £405.26/MWhr.
a lower low
…Seemed to calm markets today.
Most people need educating on the subject, especially the BBC. And Drax need to continue to be squeaky clean to generate trust to get this to where it belongs - in double digit ££.
And by the way… which part of that comprehensive destruction of the inaccuracy of the panorama program by the CEO was ‘opaque’?
You’re conveniently forgetting that the transition to renewables was supported by the Government to get away from our reliance on coal and nuclear. We’d have been even more ****ed with c.70-80% gas capacity without that renewables support.
Add up how much subsidy was given to the equivalent wind and solar capacity (make sure you include additional balancing costs required because they don’t run all the time) and come back to me if you can.
If not, bye then.
"I think that is the BBC told" yeah done with this BB, you believe what you like but the Drax statement is completely opaque and does not answer the main criticism, namely that shipping wood across the Atlantic and burning it is "green" and deserves £6 Billion of subsidies to make it viable. Whatever your view on the panorama and drax, you have to admit that without the subsidies the business model is not viable
Last park addressed to Deadly4U
Wrong again.
Check how much waste comes from Canada and read some articles about how much more potentially can… there have been several articles about that recently. DYOR.
I think that is the BBC told. I wonder when they’ll be issuing an apology?
Well the obvious answer is that you can't make the quantity of wood pellets that Drax need from waste residue. In the panorama it shows the insane quantities of pellets that you need to burn for just 2 hours of operation! A whole train load, there simply isn't enough sawdust and offcuts in the world to sustain the needs of all the biomass plants. I would respect drax a whole lot more if they just came out and said it like it is, they need to power the station all winter as the UK desperately needs as much power as possible. They don't have enough pellets from offcuts and sawdust so they took the practical step to make pellets from perfectly good trees. But of course they can't say this as that would provoke a huge storm of criticism from green fanatics and imperil their subsidies from UK Gov. So we all continue to play along to this grotesque lie of green energy. Its simply fanciful to imagine cutting down trees in canada, pelleting them, transferring them across the Atlantic to the uk, loading onto trains and burning in furnace to create electricity is "green".
There’s a big assumption here in that the bbc has reported this correctly and wouldn’t be doing it to prop up their dwindling viewing figures.
I saw the report and nothing shown could have stated if those logs weren’t spit, widow makers bent etc hence why there is no commercial use.
Let’s be honest it won’t be the first time in recent years the likes of the bbc have had to redact finding and issue apologies.
Thousands of independent scientists ecologist public bodies etc have reviewed such processes and back/support but it so happens to have been the bbc that’s proved them all wrong???
lol I never said we should shut down drax! Did you actually watch the panorama? Drax specifically bid for plots of forest, cut the trees down, left the residue on the site to be burnt... Their simply doing what we did 1000 years ago, cutting down forests and saying that replanting the forest will be net zero is idiotic, you can't replant a viable forest, it never recovers
Potential 3 hour outages this winter due to gas restrictions and there’s no place for drax lol yeah alright.
Wonder if all these hippies are happier seeing all the mass diesel generators starting up to keep essential services running.
I suspect it’ll be Drax taking legal action against the BBC if anything.
Burning coal adds to carbon in the atmosphere for carbon that has been locked up for millions of years.
What muppets like you and biofuelwatch conveniently forget is that the wood that is converted to biomass would have been burnt anyway (residue from mills, thinnings etc). It would have either been burnt on site or left to decay, releasing that carbon anyway. It’s absolute madness to not try to utilise that to generate power at the same time.
That’s not going backwards, it’s common sense…something you are clearly lacking in.
Furthermore, if you can then capture the carbon from the stack, we can then reach net zero by 2050 as all climate scientists agree we need to do.
Clueless? It's not hard to understand, coal is a much better source of power than wood, its far more energy dense! There's a reason that the industrial revolution happened in this country! We have gone backwards because of luddites who are scared of Greta Thunberg, also obviously you have a vested interest on not seeing the literal forest for the trees as you are invested in this ****show of a share. I wouldn't be surprised if some environmental company takes Drax to court on the back of that documentary by the BBC.
Some new names on this Board more interested in disruption than fact. My take on the P programme. Total hatchet job. The BBC allowed themselves to be hijacked by vested interests. Crowley is best known for The One Show, not investigative journalism. Look up the environmental protection laws for the Province of BC. They pride themselves on setting the highest environmental protection standards. In the EU biomass is seen as an increasingly important source of renewable energy, and the principal source is logging. It currently represents 60% of renewables. In America it is also seen as a credible energy source. The market is growing by 10%pa. If the eco activists have a problem with it they need to aim their concerns elsewhere. Drax is running a closely regulated business. The problem I think is that Drax has suddenly become a big player in North America, and whilst they can play with our companies we are not allowed to have a part of their markets. Drax will need to sharpen up if it is to survive across the pond. High risk and not for widows and orphans as they say, but at these levels it could become a takeover target. AIMHO, DYOR.
You’re absolutely clueless.
I think I’d rather listen to the opinion of the world’s leading climate scientists at the IPCC, who state that the world needs Bioenergy with carbon capture, than a clown on a chat forum.
Anyone who believes the BBC doesn’t understand the carbon cycle too. Comparing stack emissions is incorrect.
Having just watched the BBC panorama programme, who on earth thought it was a good idea to stop burning coal and convert to wood pellets??? They are literally making climate change worse, destroying prime forest in Canada and emitting more CO2 than if they had just kept burning coal! £6 Billion of subsidies, literally lighting money on fire, whoever gave this the go ahead is ******ed
Thanks! I did mean more on the piloting side though. It will be interesting to see how markets like this will avoid double counting, e.g. payment to the forestry owners plus payment to Drax.