22 Feb 2023 07:42
22 February 2023
Drax Group plc
("Drax" or the "Company"; Symbol: DRX)
Capacity Market Agreements
T-4 auction - provisional results for existing pumped storage and hydro assets
Drax confirms that it has provisionally secured agreements to provide a total of 621MW of capacity (de-rated 588MW) principally from its pumped storage and hydro assets(1). The agreements are for the delivery period October 2026 to September 2027, at a price of £63/kW(2), with income of around £37 million in that period. These are in addition to existing agreements which extend to September 2026.
Enquiries:
Drax Investor Relations: Mark Strafford
+44 (0) 7730 763 949
Media:
Drax External Communications: Aidan Kerr
+44 (0) 7849 090 368
Website: www.drax.com
Notes:
(1) Cruachan Pumped Storage, the Galloway hydro scheme (Tongland, Kendoon and Glenlee) and three small legacy gas turbines at Drax Power Station (96MW, de-rated 91MW).
(2) Capacity Market agreements stated in 2021/22 real-terms, with payments indexed to UK CPI.
END
Drax (DRX)