Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDrax Share News (DRX)

Share Price Information for Drax (DRX)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 501.40
Bid: 499.80
Ask: 500.60
Change: 0.00 (0.00%)
Spread: 0.80 (0.16%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 501.40
DRX Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Drax Signs GBP15 Million Of Capacity Deals; Coal Assets Under Review

Mon, 03rd Feb 2020 09:26

(Alliance News) - Drax Group PLC said Monday it has secured agreements to provide a total of 2,562 megawatts of capacity from the T-3 auction.

The capacity will come from the company's existing gas, pumped storage and hydro assets.

The capacity market agreements cover the period from October 2022 to September 2023, priced at GBP6.44 per kilowatt, which is worth a total of GBP15 million.

The power generation firm said it did not accept agreements for its two coal units, and will now look at options for these particular assets, which will involve discussions with National Grid PLC, the UK energy regulator Ofgem and the UK Government.

"A new-build CCGT at Damhead Creek and four new-build Open Cycle Gas Turbine projects participated in the auction but exited above the clearing price and did not accept agreements," Drax added.

The company will now look towards the T-4 auction, expected to take place in March, which covers the delivery period from October 2023. Drax noted it does not expect to sign a capacity agreement for its coal assets in the T-4 auction.

Shares in Drax were 3.0% higher in London on Monday morning at 280.20 pence each.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News
11 Mar 2024 10:03

LONDON BROKER RATINGS: Citi, Macquarie cut Virgin Money to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
11 Mar 2024 08:47

Jefferies sees more upside at Drax despite recent rally

(Sharecast News) - Jefferies has lifted its target price for Drax from 580p to 600p and reiterated a 'buy' rating after the electricity services group's strong full-year results last month.

Read more
29 Feb 2024 16:05

London close: Stocks finish positive as US inflation moderates

(Sharecast News) - London's stock markets finished with moderate gains on Thursday, buoyed by a combination of factors including a slowdown in US inflation, robust UK earnings reports, and encouraging mortgage approvals figures.

Read more
29 Feb 2024 11:54

LONDON MARKET MIDDAY: Stocks up as investors shake off US PCE nerves

(Alliance News) - Major stocks in Europe were up at midday Thursday, as investors shook off nerves ahead of a key US inflation print.

Read more
29 Feb 2024 09:35

TOP NEWS: Drax profit skyrockets as cost of sales slashed, revenue up

(Alliance News) - Drax Group PLC on Thursday said it believed to play a long-term role in the UK energy market as it reported significantly higher profit on the back of lower sales costs and higher revenue.

Read more
29 Feb 2024 08:52

LONDON MARKET OPEN: FTSE 100 gets boost from Haleon and Ocado results

(Alliance News) - Stock prices in London opened mostly higher on Thursday, despite some nerves ahead of a key US inflation reading.

Read more
29 Feb 2024 08:08

Drax lifts dividend as full-year profits jump

(Sharecast News) - Power generation company Drax posted a surge in full-year profits on Thursday and lifted its dividend, as Britons struggled to pay their energy bills.

Read more
28 Feb 2024 10:29

PRESS: Drax power station burning rare Canadian forest wood - BBC

(Alliance News) - Drax Group PLC has been burning timber from protected forests in Canada at its North Yorkshire power station, at odds with its previous promise not to do so, according to a report by the BBC on Wednesday.

Read more
28 Feb 2024 07:23

Drax secures capacity deals, faces fresh sourcing scrutiny

(Sharecast News) - Drax Group announced provisional agreements secured through the recent T-4 capacity market auctions on Wednesday, as it also faced fresh scrutiny over its sourcing practices.

Read more
22 Feb 2024 14:26

UK earnings, trading statements calendar - next 7 days

Friday 23 February 
City of London Investment Group PLCHalf Year Results
Irish Residential Properties REIT PLCFull Year Results
Standard Chartered PLCFull Year Results
Monday 26 February 
Base Resources LtdHalf Year Results
Bunzl PLCFull Year Results
EnSilica PLCHalf Year Results
Kosmos Energy LtdFull Year Results
Made Tech Group PLCHalf Year Results
Tristel PLCHalf Year Results
Tuesday 27 February 
abrdn Equity Income Trust PLCFull Year Results
abrdn PLCFull Year Results
Croda International PLCFull Year Results
Kitwave Group PLCFull Year Results
McBride PLCHalf Year Results
PCI-PAL PLCHalf Year Results
Smith & Nephew PLCFull Year Results
Synectics PLCFull Year Results
Uniphar PLCFull Year Results
Unite Group PLCFull Year Results
Wednesday 28 February 
AB Dynamics PLCTrading Statement
ASA International Group PLCTrading Statement
Aston Martin Lagonda Global Holdings PLCFull Year Results
Avingtrans PLCHalf Year Results
Bluefield Solar Income Fund LtdHalf Year Results
Derwent London PLCFull Year Results
Glenveagh Properties PLCFull Year Results
Grit Real Estate Income Group LtdHalf Year Results
Harmony Energy Income Trust PLCFull Year Results
Hutchmed China LtdFull Year Results
International Personal Finance PLCFull Year Results
Just Eat Takeaway.com NVFull Year Results
Primary Health Properties PLCFull Year Results
Reckitt Benckiser Group PLCFull Year Results
Renewables Infrastructure Group LtdFull Year Results
RHI Magnesita NVFull Year Results
St James's Place PLCFull Year Results
Taylor Wimpey PLCFull Year Results
Thursday 29 February 
Cairn Homes PLCFull Year Results
CVS Group PLCFull Year Results
Drax Group PLCFull Year Results
Faron Pharmaceuticals LtdFull Year Results
Haleon PLCFull Year Results
Hammerson PLCFull Year Results
Howden Joinery Group PLCFull Year Results
Hunting PLCFull Year Results
International Biotechnology Trust PLCFull Year Results
London Stock Exchange Group PLCFull Year Results
Macfarlane Group PLCFull Year Results
Man Group PLCFull Year Results
Mobico Group PLCFull Year Results
Nexus Infrastructure PLCFull Year Results
Ocado Group PLCFull Year Results
PPHE Hotel Group LtdFull Year Results
Schroder Oriental Income Fund LtdFull Year Results
Schroders PLCFull Year Results
Serco Group PLCFull Year Results
Shaftesbury Capital PLCFull Year Results
Spectris PLCFull Year Results
Spire Healthcare Group PLCFull Year Results
Vesuvius PLCFull Year Results
Weir Group PLCFull Year Results
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

Read more
21 Feb 2024 11:17

LONDON BROKER RATINGS: Unilever and Aviva both raised to 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
19 Feb 2024 09:24

LONDON BROKER RATINGS: UBS cuts Howden Joinery; Jefferies likes SSE

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
19 Feb 2024 07:49

LONDON BRIEFING: MoneySupermarket credits Insurance for growth in 2023

(Alliance News) - Stocks in London are set to fall at Monday's open, as concerns over US inflation trends curb risk appetite, and damp hopes of interest rate cuts from the Federal Reserve.

Read more
24 Jan 2024 15:40

Watchdog calls on government to review biomass sustainability monitoring

(Sharecast News) - The government cannot prove biomass power plants meet sustainability rules and should review its monitoring arrangements, the National Audit Office said on Wednesday.

Read more
24 Jan 2024 15:40

Watchdog calls on government to review biomass sustainability monitoring

(Sharecast News) - The government cannot prove biomass power plants meet sustainability rules and should review its monitoring arrangements, the National Audit Office said on Wednesday.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.