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Green campaigners slam £4 billion Drax handout
FTSE 250 firm produces electricity by burning wood pellets, known as biomass. It receives a controversial Government subsidy that runs until 2027. Drax is now lobbying for an extension that could lead to households footing a total bill of £4.1 billion by the end of 2035.
Biomass review leaves investors in Drax fearing they’ll get burnt Shares in Drax fell to their lowest price in nearly a year after the National Audit Office said it would issue a report about the government’s biomass strategy. The NAO will look into how support for the strategy has been implemented.
Vitol’s UK power plants see profits treble VPI Holding reported adjusted profits of £643.9 million in 2022, up from £222.4 million a year earlier. VPI operates five power plants in Britain: four gas-fired stations that it acquired from Drax in early 2021.
Ministers continue to back 'renewable' energy companies such as Drax despite accusations it 'gamed'... Ministers continue to back'renewable' energy companies such as Drax despite accusations it 'gamed' subsidy rules to avoid repaying hundreds of millions of pounds to taxpayers. Government confirmed its support for industry in a review of the sector. Comes amid claims Drax manipulated green subsidies regime in energy crisis.
DAILY MAIL COMMENT: Green posturing that picks all our pockets Felling trees removes an important source of carbon dioxide absorption. Shipping them thousands of miles on dirty, oil-guzzling container ships increases pollution. Burning them produces as much greenhouse gas as fossil fuels. Government pays vast subsidies to the Drax power company to go through this perverse charade.
Drax denies use of subsidy loophole to avoid £639m payout to households Drax idled one of the generating units at its giant North Yorkshire power plant for much of 2022 when the energy market crisis plunged millions of homes into fuel poverty. If Drax had kept running the unit, it would have been required to return an estimated £639m to bill payers as of last month.
DAILY MAIL COMMENT: Green posturing that picks all our pockets Felling trees removes an important source of carbon dioxide absorption. Shipping them thousands of miles on dirty, oil-guzzling container ships increases pollution. Burning them produces as much greenhouse gas as fossil fuels. Government pays vast subsidies to the Drax power company to go through this perverse charade.
Scotland gives green light to €600M ‘hollow mountain’ water battery Renewable power developer Drax wants to build a new £500 million development in their existing Cruachan facility. Authorities have approved the plans, which will also help Scotland in its bid to reach net-zero targets.
BECCS: Converting Wood To Energy In The 21st Century Drax, a renewable energy company based in the United Kingdom, has been engaged for decades in the manufacture and supply of wood pellets. Drax recently announced the establishment of U.S. headquarters in Houston, Texas.
Drax pulls plug on plans for backup coal power for National Grid National Grid has failed to secure emergency backup coal plants to help prevent blackouts this winter. Drax rejected requests to reopen parts of its north Yorkshire power station.
Britain down to last coal power plant over coming winter Britain will be down to its last coal power plant next winter. Talks to keep two more sites going over the upcoming cold season ended without agreement. Both Drax and EDF decided to push ahead with the closure plans.
UK to run only one coal-fired power plant this winter Drax scrapped a proposal to bring two coal-fired units at its vast power plant in North Yorkshire out of retirement to help guard against power cuts. FTSE 250 energy company had been in talks with National Grid’s electricity system operator (ESO)
Britain is left with just one coal power plant after talks to keep two more sites running fail National Grid's ESO said that discussions with Drax and EDF had concluded. Companies' plants had been slated for closure ahead of last year, but agreed to stay open a little longer due to the international energy squeeze. But they were barely needed during the winter, and will now close down ahead of next winter. Uniper's Ratcliffe-on-Soar, in Nottinghamshire, will keep operating, but only on a commercial basis.
Britain down to last coal power plant over coming winter Talks to keep another two coal plants as backup ended without agreement. Drax and EDF decided to push ahead with the closure plans.
Britain down to last coal power plant over coming winter Talks to keep two more sites going over upcoming cold season ended without agreement. Drax and EDF decided to push ahead with closure plans. Plants had been slated for closure ahead of last year, but agreed to stay open a little longer.
Britain is left with just one coal power plant after talks to keep two more sites running fail National Grid's ESO said that discussions with Drax and EDF had concluded. Companies' plants had been slated for closure ahead of last year, but agreed to stay open a little longer due to the international energy squeeze. But they were barely needed during the winter, and will now close down ahead of next winter. Uniper's Ratcliffe-on-Soar, in Nottinghamshire, will keep operating, but only on a commercial basis.
Britain is left with just one coal power plant after talks to keep two more sites running fail National Grid's ESO said that discussions with Drax and EDF had concluded. Companies' plants had been slated for closure ahead of last year, but agreed to stay open a little longer due to the international energy squeeze. But they were barely needed during the winter, and will now close down ahead of next winter. Uniper's Ratcliffe-on-Soar, in Nottinghamshire, will keep operating, but only on a commercial basis.
How Putin wrecked Britain’s net zero plan to ditch coal Four of the facility’s six coal-fired units have been converted to run on wood chips. Grid confirmed it is in talks with Drax about keeping the coal units going until April 2024.
National Grid in talks with Drax to revive coal-fired units Drax has converted four of the plant’s six units from biomass to coal in recent years. The final two units were kept available at the request of National Grid between October and March.
Drax coal plant put on emergency standby to prevent winter blackouts Drax’s two coal-fired units in Selby, Yorkshire, were used as backup last winter and were due to be retired from April. National Grid confirmed it had asked the company to delay this move and was seeking to keep the coal plant online as a “winter contingency” once again.
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