Member Article

Drax electricity group predict earnings above market forecast

Selby-based Drax Group, have predicted that earnings this year will be “materially ahead of current market consensus forecasts.”

The group attribute this to the solid performance of their coal generating units and steady trading conditions in their market. Also the good performance of their first unit converted to biomass has been “encouraging” and the company have also commissioned new biomass delivery, storage and distribution systems which should facilitate this move.

Drax own the largest coal-fired power station in Western Europe, supplying 7% of the UKs electrical consumption.

This was posted in Bdaily's Members' News section by Clare Burnett .