Member Info for spentout

What a magnificent performance. Well done Drax and long term holders. I sold out some time ago but made some nice profit, and still like to see how the company is doing. What I really like is the way the BoD maximise opportunities and use every market lever they can. Capitalism can prevail over Marxist dogma. Shareholders must be singing the praises of Red Ed. The loony lefties and pathetic MP’s, that literally can’t see the wood for the trees, must be beside themselves. Thanks to Miliband I can’t keep warm by using my wood burner, but he can’t keep the lights on without Drax!! The vacuous nature of this government’s policies is beyond comprehension (but can be quite amusing (sometimes)).

Good looking set of results and future prospects, but still the SP languishes. Latest dip started last summer. Wonder if we are suffering from the German economic challenges and uncertainty?

I think it is in part a reaction to the Nat Grid rights issue and concern that Drax will be next. The govt didn't seem keen on funding the approved BECCS scheme, and noone knows what Labour's Great British Energy company will involve, though I would have thought Rhubarb rather than beetroot the more appropriate term to describe their energy policy. It is also, I think, probably an easy share to short. I see another fund is shorting it which I suppose is extra income for the institutions holding for the long term. Could be an interesting few months ahead. Time to put the tin hat on and sit it out.

So are the short contracts due to expire, or is this just a bit of post - Christmas nonsense? Not posted on here before but have been a holder of this share for years, lost my shirt on it, but still can't help keeping an eye on it - maybe that is the power of gem stones? Still with what residual shareholding I have I know which direction I prefer to see it moving. Anybody any views on future moves in the sp?

Really good comment, I agree. Thanks to Boris, the Govt is struggling to finish Hinckley, let alone start Sizewell, so the idea of letting go of 2GW+ is not insignificant ( I think it is just under 4GW max). Two concerns I have: use of LPG, and continuity of supply of biomass. I think on some days UK has used LPG to generate more than 60% of needs. With the govt rowing back on climate change measures, they could just say 'what the hell' let's just import more gas; secondly I would like the company to comment on resilience in their biomass supply chain. Drax has had mixed £ fortunes in the distant past, so definitely not one for a the faint hearted, or savers. Sub £4 this will look increasingly interesting but dependent on some very big decisions by govt and associated quangos (NAO and OFGEM).

If Canadian wildfires proved anything it is that forests need to be intensively managed. Biomass is unavoidable and has to be removed. Trees do nothing to reduce carbon. Importing biomass from Canada is better than importing coal from Australia and Brazil as used to be the case. With BECCS Drax will be a world leader. Thanks to politicians and treehuggers there are some big falls in the share price - can only mean one thing - big gains to come. As for 'being on public money' effix do you know how much nuclear waste costs the public purse every year, or why wind farms managed to produce cheap power?

Canadian Government, 'Made in Canada' budget 2023 very supportive of biomass as critical source of clean energy and creating opportunities for rural communities in British Columbia. Good to see, given the distorted garbage pedalled by halfwit journalists. Purely personal opinion of course. Look forward to the BBC setting the record straight after their slightly bias Panorama expose last year. Solid climb back in share price in recent days. For the LTH this will continue to be a good hold.

Is the truth about wind energy finally beginning to come home to roost?
City AM report, 'Ole Hanson, head of commodity strategy at Saxo Bank, told City A.M. that the intermittent performance of domestic renewable power is proving costly for the West.' (equivalent to 15 nuclear power plants).
The amount of gas we have to use in the UK is staggering. Good old, sustainable, Drax just keeps generating 5 - 7% UK requirement.
Happy Christmas all.

The geology isn't just flawed actually, it is completely fu45kd. What was flawed was the socialist planning that came up with the brilliant idea. DYOR before posting. Even if Drax was to burn used £5 notes as biomass it wouldn't be enough money to sort it out. Maybe however, given the QE the BoE has done over the years, that is the answer. They are holding about 10 trillion pounds, so perhaps that could be the substitute for logs. Having said that, apart from deluded Greens, N. America, the EU, and Asia see biomass as an expanding source of energy. As long as the business model works Drax they should continue, Germany is still generating a massive (increasing) amount of elec from Brown coal. Presumably that is okay ? As is nuclear waste; fracking; diesel driven wind turbines; and solar panels; half of which are produced by forced labour; exploitation of rare earth minerals by child labour for use in batteries and wind turbines: all to satisfy a smug self - centred middle class green agenda. The muddy waters of green politics run deep. LOL. Close all of that down first, then we can switch the lights off at Drax, and go back to living in the Stone Age! If you think wood is a Middle Ages fuel, coal is surely Primeval, and in my book, just slightly more important than immature trees.
Anyway, I think a certain ex - Chancellor has a lot to answer for. He didn't do his research either! Happy Days!

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.

bigsmoke and myoung, more like Tweedledum and Tweedledee me thinks!! Panorama stopped being worth watching about 40 years ago. It does not do primary investigative journalism. Licenced felling presumes an assessment has been made of the timber. Canada is considered one of the worlds best governed country's. The criticism doesn't add up.

Not too worried about effix. If he exists I reckon he is a true contrarian, I wish I'd bought every time he posted. More to the point, is it too much to expect the brakes to now come off this undervalued share? Is Rees - Mogg going to bring some reality to a sector dominated by left - wing political activists pretending to be eco - warriors, and a media that refuses to take a balanced approach to reporting on anything to do with wind farms? KK couldn't get a grip on it, and literally couldn't see the wood for the trees!

698p when you posted effix, 736 close today, looks good to me, despite total incoherence on part of politicians on what to do with energy crisis, and a Business Secretary who ought to be considering his position. Not sure if reference to FT is supposed to impress, but for information Lex is written by journalists who do not identify themselves. They are anonymous because the column enables them to express opinion in a field in which they have no knowledge whatsoever. 30 years ago it might have merited consideration, today the FT is not much more than a pink Guardian! My personal opinion of course.

Where is the level playing field? Anyone ever seen a wind turbine made in the UK? How about solar panels? I think they all come from that democratic country called CHINA, and produced by an oppressed minority!! Carbon footprint, what is he talking about? As business Minister he is a disgrace for undermining a sustainable UK company, and opening it up to the looney left. Next he will be proposing renationalisation of the whole industry. Back to the 70's!!

Excellent turnaround by end of day. Two things may have contributed to initial fall: Shell and Centrica announced good profits and a dividend - both of which are strictly forbidden, and which seems to send the media into a frenzy demanding to know why; and a group of NGO's have persuaded the UK Govt Commissariat, aka, 'UK National Contact Point for Multinational Enterprises', to hold an enquiry into Drax issuing, in the opinion of the Green NGO's, misleading information about biomass and carbon footprint, etc. Something very very wrong with this country's attitude to business, and so called green culture.

Totally agree. If eco warriors really knew what they were about they would focus on getting rid of plastic and cutting trade with China. Sir David is a great man, but he has been hoodwinked if he believes biomass is the problem. As for the HC environment committee they need to start thinking about who is going to pay for decommissioning the first generation of wind farms. Add that to the funding for Hinckley C. Nice big cost for someone, and all for nothing. Wind farms are fake news, and nuclear remains a high risk technology. Cut consumption if serious about the environment, but don't use Drax as the scapegoat for incompetence and ignorance elsewhere.

Good to see the correction in the price yesterday, lets hope it holds. Still think it has been grossly oversold on the tax concern, and can only think it is spec shortsellers causing the problem in the quiet summer period. Hope they get their just deserts! All energy news seems good for Drax, whether it is delays at Hinckley; funding problems at Sizewell. Don't think the market has even started pricing in the role Drax is taking in the global biomass market.

Depends if the existing biomass units are running at full power. If not they may as well keep some coal generation for back up and take a profit. As for green credentials, what Greenpeace and the BBC are not reporting / telling us, is what the renewable solution is anyway. Wind power is now actively adding to CO2 due to the fact that too much is being produced at the wrong time, in the wrong place, and with no viable means of being able to store it, so who is the hypocrite?

wish I'd topped up last week on the dip to 714! How fortunes are made or missed! Still with Fitch reaffirming BB+ status and Barclays revising upwards their target, this continues to be a long term hold for me. I think it was Warren Buffet (apologies, but I cannot remember the exact quote), who said something like, most shares are dogs, when you find a good one you have got to let it run as long as you can, because they are so rare. GLTA

If Credit Suisse think this is overbaked, lets see how we fare when we get stuck with Boris's 10 year nuclear programme. In the long term that, plus the growing awareness that just maybe windfarms aren't all they are said to be, should mean that whatever happens in the Ukraine the outlook for any of us left with Drax should be good.