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The Latest Breaking News from Drax

Stocks slide and oil spikes as peace talks falter

Iranian news agency Tasnim reported that Tehran had suspended dialogue with mediators in protest against Israel’s expanding Lebanon offensive.

Evening Standard

Drax Group Pauses Buyback as £561M Bluefield Solar Deal Boosts UK Renewables

Drax Group (LON:DRX) Chief Executive Will Gardiner said the company’s recommended all-cash offer to acquire Bluefield Solar Income Fund would significantly expand Drax’s U.K. renewables business and broaden its generation portfolio, while prompting a pause in its current share buyback program pendin

MarketBeat

Drax to stop burning controversial Canadian wood within next year

Yorkshire plant has been criticised for taking material from some of British Columbia’s most environmentally important forests

The Guardian - UK

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MPs in call to halt Drax’s £2m-a-day subsidy over sustainability doubts

Exclusive: Cross-party group ‘deeply concerned’ power plant may have misled ministers and regulators over source of wood pellets

The Guardian - UK

Drax has ‘betrayed’ workforce with plans to cut jobs, union says

Drax Group is consulting over restructuring in the UK and North America that could result in the reduction of its workforce.

Evening Standard

Drax plans to convert part of its North Yorkshire power plant into datacentre

Plans are response to surge in demand for AI capability and come after government signalled it would curb subsidies

The Guardian - UK

Drax announces data centre plans as earnings expected at ‘top end’ of forecasts

The FTSE 250 firm said trading was boosted by the performance of its flexible generation, pellet production and biomass operations.

The Independent UK

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UK using more wood to make electricity than ever, Drax figures show

Giant biomass plant reveals burning of wood pellets made 9% of UK’s electricity in July, its largest ever monthly share

The Guardian - UK

Drax, the forestry industry and the guise of ‘green’ energy

Letters:

The Guardian - UK

Drax still burning 250-year-old trees sourced from forests in Canada, experts say

Exclusive: report by Stand.earth says subsidiary of power plant received truckloads of whole logs at biomass pellet sites

The Guardian - UK

Drax power plant to go on earning ‘over £1m a day’ from burning wood pellets

Analysts say Britain’s biggest power plant in line to earn £458.6m a year under new government subsidy contract

The Guardian - UK

Mississippi residents sue UK-owned biomass firm granted permit for more emissions

Nearby residents say they have had health concerns due to air pollution from Drax Biomass facility

The Guardian - US

Make Drax wait for its next subsidy deal. An FCA investigation is serious

Ministers should find out what the regulator says before signing away a further £1.8bn of public money

The Guardian - UK

Blue chips falter as FTSE outshone by European peers

The FTSE 100 index closed down 38.68 points, 0.4%, at 9,216.82.

Evening Standard

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The Guardian - UK

Drax’s shares plunge as City watchdog investigates sourcing of wood pellets

FCA inquiry into biomass power station relates to disclosures and transparency over two-year period

Evening Standard

Drax under investigation by City watchdog over biomass sourcing

The probe comes after claims by Drax’s former head of public affairs that the company had misled over its sourcing of wood for biomass pellets.

The National (Scotland)

Plans for 1500 solar panels for historic Scottish hydro power stations

EIGHT historic hydro power stations across the south west of Scotland could have hundreds of solar panels fitted to them ...

The Guardian - UK

Cutting down forests to feed Drax incurs a huge carbon cost

Letters: Alex Sobel MP writes paying Drax billions of pounds to burn forests is not a coherent climate strategy; Tom Blandford suggests Drax is a stepping stone to a low carbon future; Peg Putt deplores its emissions ‘reductions’ scheme; plus a letter from William Carmichael

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The Guardian - UK

Ancient trees are shipped to the UK, then burned – using billions in ‘green’ subsidies. Stop this madness now

The evidence against the Drax power station is damning, yet the government wants to continue its massive public funding, says campaigner Dale Vince

The Guardian - UK

Calls for Drax to be forced to fully disclose its biomass sourcing

Campaigners say the publication of key KPMG report must be a condition to MPs extending subsidies scheme

Evening Standard

UK ‘could take more US wood pellets to burn for electricity’ amid trade talks

The US agriculture secretary said the US is ‘100% confident’ that its wood chips meet the UK’s sustainability requirements.

The Guardian - UK

Drax abandons AGM after confrontation with green activists

Between 10 and 20 protesters are forcibly removed after challenging the board about use of woody biomass

The Guardian - UK

Drax needs a better policeman

Public confidence in the UK biomass industry is low – robust checks are needed to ensure every wood pellet its power plant burns is sustainable

The Independent UK

Biomass power generators could be ‘marking own homework on sustainability’

The Public Accounts Committee said certification schemes aiming to ensure biomass has been sustainably sourced may not be strong enough.

The Guardian - UK

Drax is the subsidy show that goes on and on

Government cranks handle again for group owning Yorkshire power plant because cheaper generating capacity not in place

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