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The Latest Breaking News from Drax

FTSE 100 strikes another record high as BP shares jump

The FTSE 100 finished 67.27 points, or 0.77%, higher to end the day at 8,767.80.

Evening Standard

UK halves subsidies for Drax and says it must use 100% sustainable wood

North Yorkshire power plant has been criticised for burning wood pellets sourced from US and Canada

The Guardian - UK

Green campaigners fear UK to renew subsidies to Drax power station

Billions of pounds from energy bill-payers to run out in 2027 but could be extended as soon as Monday

The Guardian - UK

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Wes Streeting heckled by climate protesters at Fabian Society address

Speech calling for unity against ‘populist right’ interrupted by two women opposed to Drax power plant subsidies

The Guardian - UK

Burning wood for power not necessary for UK’s energy goals, analysis finds

Experts say UK should stop biomass burning as electricity sector decarbonisation by 2030 can be achieved without it

The Guardian - UK

How mega-polluters take advantage of billions in green loans

Some of the world’s biggest polluters are reaping billions of dollars through a lax form of green finance, a new investigation by The Examination has found

The Independent UK

Anger at UK’s ‘bonkers’ plan to reach net zero by importing fuel from North Korea

Government criticised over list of potential countries for sourcing biomass, which also includes Afghanistan

The Guardian - UK

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Despite the end of coal-fired power, the UK’s green energy future is still unclear

Letters: The last coal-fired power station is closed, but what about the Drax station still burning trees, asks Donald Simpson. Also letter from Jude McCarthy

The Guardian - UK

Why ‘the UK’s biggest carbon emitter’ receives billions in green subsidies

TheDrax power plant burns 7m tonnes of biomass pellets a year and generates 4% of UK’s electricity needs

The Guardian - UK

After wood pellet reporting failures, it’s time for a proper review of Drax’s subsidies

Before biomass firm is promised a penny extra from billpayers, Ed Miliband should commission a review of its business model

The Guardian - UK

Drax to pay £25m after regulator finds wood pellet reporting failures

Energy regulator’s investigation found ‘inadequate data governance’ over sourcing of wood to fuel power station

The Guardian - UK

US stocks rise on faster economic growth despite Nvidia nerves – as it happened

Live coverage as US GDP figures show faster economic growth but Nvidia share price falls in after hours trading

The Guardian - UK

British energy giant reports violating toxic pollutant limits at Louisiana wood pellet facilities

British energy firm Drax Global, already facing scrutiny for violating environmental regulations, disclosed this year that its Louisiana wood pellet production facilities emit hazardous air pollutants above permitted limits

The Independent UK

Biomass power station produced four times emissions of UK coal plant, says report

Drax received £22bn in subsidies despite being UK’s largest emitter in 2023, though company rejects ‘flawed’ research

The Guardian - UK

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The Independent UK

Wood pellets production boomed to feed EU demand. It’s come at a cost to Black people in the South

Wood pellet production has skyrocketed across the US South to feed the European Union’s push

The Guardian - UK

Drax Group to give shareholders £300m windfall as profits rise

Owner of North Yorkshire power station earned £393m in government subsidies for biomass

inkl

Drax Gets The O.K. For A Carbon Capture Project That Could Drain £40bn From Bill-Payers’ Pockets

The UK Government has recently given the green light for Drax’s project to install carbon capture technology at the North Yorkshire site.

Broadcasting & Cable

Disney Lets Buyers Access Streaming Ad Inventory Via Google, The Trade Desk

DRAX direct unlocks incremental demand for Hulu, Disney Plus

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The Guardian - UK

Power struggle: fears for UK energy generation as green projects delayed

Path to relying solely on green power appears long as series of problems collides with reality of keeping the lights on

The Guardian - UK

Fury at plan to extend Drax subsidy to burn trees for electricity

Climate groups and MPs criticise proposals for consumers to foot bill to support biomass plant after existing scheme ends in 2027

The Guardian - UK

National Grid says blackouts less likely this winter

Higher gas storage levels in Europe help leave Great Britain in stronger position, says operator

The Guardian - UK

Drax denies use of subsidy loophole to avoid £639m payout to households

Bloomberg alleges Drax idled an electricity generating unit and resold its biomass pellets rather than return money to bill payers

The National (Scotland)

Scotland set for new £500 million pumped storage hydro plant - if UK steps up

APPROVAL has been granted to an energy firm for the construction of a new underground pumped storage hydro plant in Argyll.

The Independent UK

First Minister calls on UK Government to provide support for power storage

Drax has pledged to build a £500 million facility in Argyll and Bute if it receives support from the UK Government.

Daily Record

Kirkcudbright's Dark Space Planetarium receives funding boost from Galloway Hydro owners

Drax Foundation has given the visitor attraction £25,000 to help improve access to science, technology, engineering and mathematics

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