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"The Group's financial expectations do not include any Balancing Mechanism activity in December for the coal units."
Reasonable not to include Units 5 & 6 in any predictions, but in the current tight margin system, every time there is low wind, at least one of these units runs in the BM @ circa £4k/MWhr, grossing over £5M per event.
Nice bit of upside for 2022 and 2023 hedged prices.
Was expecting more of an uplift for 2021 but it seems that unplanned outages led to a hit. Good that the flex from the pumped storage (Cruachan) was able to mitigate this. Was/is still a big concern of mine but they always leave some capacity unhedged for such a scenario.
It also means that if they have good availability, which it looks like they have now, they can make hay when prices surge, which they are set to do the remainder of winter.
will await to hear more on the future carbon capture plans.
Now, now, stop teasing the lad.
He, for I can only believe its a 'he', is most assuredly in a twilight zone of his own however I would be worried if he started to post positive views and would see this as a major indicator to sell up as soon as I possibly could!
Would someone like to persuade me that as a troll, effix is actually gender neutral and should in fact be referred to as 'it'?
What zone are we in? at 567 do we still class that as 300 zone Effix?
Well, someone is buying at this level;-
18-Nov-21 16:35:24 569.50 772,358 Buy* 4m
If you are prepared to sink £4million into the share at this price you must know something or simply criminally incompetent.
Admit it Effix sweet honey, you're a bit of a sour loser.
:-)
Effix…I bet you wish you had bought in at 300p now …. Looser…hahah
Buhaha. Who’s buying at this level? Average Joe left holding the bag -)
haha - most definatley...all we need now if effix to crawl out of his sink hole and say it won't clear the 600p zone :-)
Very quiet on here, have we now cleared the 500p zone?
Well done everyone who bought in on the low , a five-bagger in 18 months is good going.
Let's hope Dorothy kept her share options.
I can see mms trading this like mad!! Just like Darktrace and a sillier than normal trading on google article. £9.50 sell and rebuy at £7.50 only to sell at £9 again. I am in on Spreadbet account - normal Hl is crap profit.
ScottsLoveTrump do u mean b4 £9 sell Drax or is it a repeat of what mms did with Darktrace - sell at £9.50 - just below £9.71 - I watched it. Then a huge fall to £8 then recently today £7.03 at 11.03am today on Google chart - only to be taken to £7.89 today on close.
http://biomassmagazine.com/articles/18405/uk-ccs-cluster-anchored-by-drax-beccs-project-moves-forward
https://www.drax.com/press_release/drax-group-ceo-will-gardiner-responds-to-the-governments-net-zero-strategy/
https://www.drax.com/press_release/drax-group-ceo-will-gardiner-responds-to-track-1-cluster-announcement/
Another step in the right direct to successfully achieving Drax's BECCS ambitions.
https://www.proactiveinvestors.co.uk/companies/news/963796/carbon-capture-projects-led-by-bp-shell-and-drax-get-green-light-for-government-funding-963796.html
Drax needs to address to CO2 element of their electricity production. They need to be clear and act fast to make their production clean. They want to be burning wooden pellets and removing CO2 prior to it being released into the air. If they can crack that part and get it into production fast, they have a real chance to make a lot of money. This is for the long run. In the short run, they should be able to take benefit of the high gas prices. This is at the moment driving it price up, however the first bit will transform the business and make it sustainable energy company. (They will continue to be exposed to the risk of moving pellets from Canada / North America - using boats and burning lots of oil while getting to the UK)
Could reach £6 in the near future
SELL before DRAX gets to 900p ZONE.
cheers
EFF IT
JEFFERIES RAISES DRAX GROUP TO 'BUY' ('HOLD') - TARGET 660 (280) PENCE
Wonder if this was the reason for the increase on Friday and today - looks like clearing the 500p zone yet again today, and looks like someone is still hiding down the rabbit hole.
At the time the Selby Mines closed, Drax was still burning circa 10 million tons of coal a year. Selby coalfield was deemed economically non-viable due mainly to geological issues. No matter how you pitch the arguments about how green or otherwise burning biomass is, you cannot sensibly argue that it is no greener than burning coal.
Agree. Drax sits on a massive coal field. Served by an underground shuttle, supporting mining communities and local services, 40 years ago Drax was truly sustainable. Fast forward and the anti coal lobby, and we are where we are, Greta Thurnberg and all! That is all history, and to misquote Aneurin Bevan, only an organising genius could produce what we've got today. You cannot blame the company, they dance to the tune the Government play, and do it very well.
Completely barking strategy - it's not any greener than burning the Selby coalfield coal with the technology that now exists!
Time will tell
Enviva reported on Friday "Enviva announced the signing of a new 5-year take-or-pay off-take contract to supply British renewable energy company Drax Group PLC ("Drax") with 200,000 metric tons per year ("MTPY") of wood pellets. Deliveries related to the contract are scheduled to commence in 2022. This is the fourth contract signed with Drax since Enviva’s IPO in 2015, and demonstrates the long-standing relationship between Drax, the world’s largest consumer of wood pellets, and Enviva, the world’s largest supplier."
A bounce back from the daft fall the other day.
Who cares what Blackstone do when the UK power system in on a tightrope!!!
Look at spot lower prices and the forward curve.
Anyone want to sell that? PLEASE!!!
huge volume today for drax.....anyone know whats going on?