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Pin to quick picksDrax Share News (DRX)

Share Price Information for Drax (DRX)

London Stock Exchange
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Share Price: 507.50
Bid: 508.50
Ask: 510.00
Change: -47.50 (-8.56%)
Spread: 1.50 (0.295%)
Open: 543.50
High: 543.50
Low: 499.00
Prev. Close: 555.00
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Industrial action will not lead to power cuts, Drax insists

Wed, 08th Feb 2023 08:30

(Sharecast News) - Drax Group has insisted that the UK's electricity supply will not be affected after workers voted in favour of industrial action.

Unite has announced nine strike days, starting on 20 and 27 February and continuing through March into April.

Members voted in favour of industrial action after rejecting an 8% pay offer. The union argued that with inflation at record highs, the offer represented a real terms pay cut.

London-listed Drax can generate around 7% of the UK's electricity when fully operational, and Unite warned on Wednesday that industrial action would "close Drax down", leading to possible power cuts.

Regional officer Shane Sweeting said: "The strike action at Drax will inevitably cause considerable strain on the National Grid, but this dispute is completely of the company's own making."

However, Drax insisted the electricity supply would not be affected. A spokesperson told Reuters: "In the event of industrial action, Drax has robust plans in place to ensure the power station continues to safely generate renewable electricity for millions of homes and businesses."

Unite represents around half of Drax's 471 production staff, the firm added.

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17 Jan 2024 12:18

Citi downgrades Drax to 'sell'

(Sharecast News) - Citi downgraded Drax to 'sell' on Wednesday as it argued the shares have re-rated "unjustifiably" on the hope of further government support - a view the bank does not share before the general election.

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16 Jan 2024 17:00

Drax wins permission for carbon capture at UK's largest power plant

(Alliance News) - The UK government has approved Drax Group PLC's development application to install carbon capture technology at Britain's biggest power station, giving a new lease of life to the North Yorkshire site which provides a significant chunk of Britain's electricity.

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16 Jan 2024 09:14

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

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8 Jan 2024 16:59

LONDON MARKET CLOSE: Stocks mixed as eyes on US inflation data

(Alliance News) - Stock prices in London closed mixed Monday, with oil majors holding down higher gains in the FTSE 100 index.

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8 Jan 2024 16:38

London close: Stocks manage positive finish after mixed session

(Sharecast News) - London's financial markets experienced a mixed trading day on Monday, with the FTSE 100 and FTSE 250 indices closing in positive territory after spending much of the session in the red.

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8 Jan 2024 11:46

PRESS: UK to approve Drax power plant carbon capture plan - Telegraph

(Alliance News) - The UK's once "dirtiest" coal-fired power station Drax is set to receive approval for a multibillion-pound net-zero carbon capture plan from the UK government, according to a report from the Telegraph on Monday.

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8 Jan 2024 10:25

Drax to get approval for net zero carbon capture plan - report

(Sharecast News) - Drax surged on Monday following a report that the UK government is set to approve a multibillion-pound CO2 capture scheme.

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21 Dec 2023 09:28

LONDON BROKER RATINGS: Berenberg cuts Admiral Group to 'hold' from buy

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

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20 Dec 2023 15:16

Drax calls UK government CCUS update "important step" towards net zero

(Alliance News) - Drax Group PLC on Wednesday praised the UK government's update on the development of carbon capture utilisation and storage clusters.

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14 Dec 2023 09:29

LONDON BROKER RATINGS: JPMorgan raises Compass and Marston's

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

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5 Dec 2023 09:16

Drax expects 2023 adjusted earnings to jump, in line with consensus

(Alliance News) - Drax Group PLC on Tuesday generator maintained yearly guidance and talked up its bioenergy with carbon capture and storage offering in Yorkshire.

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5 Dec 2023 07:48

LONDON BRIEFING: Ashtead in record half-year; tinyBuild cuts outlook

(Alliance News) - London's FTSE 100 is called to open lower on Tuesday, continuing a lacklustre start to the week, after tepid trade in New York overnight.

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5 Dec 2023 07:21

Drax cuts leverage ratio after strong second half

(Sharecast News) - Power station group Drax has scaled back its leverage expectations after a strong performance in the second half, and said it should meet analysts' profit forecasts with its full-year results.

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