Drax Group to take £10m hit amid unplanned power station outage

Following an unplanned outage on the rail unloading facilities at Drax Power Station, Drax Group confirmed on Wednesday that biomass deliveries are currently restricted and, in order to optimise available supplies, generation on the two renewable obligation certificate (ROC) units has been reduced.

Drax Group

671.00p

15:45 15/11/24

-0.74%

-5.00p

Electricity

10,595.89

15:44 15/11/24

0.06%

6.72

FTSE 250

20,508.75

15:45 15/11/24

n/a

FTSE 350

4,453.56

15:45 15/11/24

n/a

FTSE All-Share

4,411.85

15:45 15/11/24

n/a

The FTSE 250 company said the two units would then be taken offline for a short period.

It confirmed the contract for difference (CfD) unit and coal operations remained unaffected.

“The outage on the rail unloading facilities is currently expected to be completed during January 2018, at which point the ROC units should return to service,” the Drax board said in its statement.

“Reflecting the outage and reduced generation on the ROC units, Drax currently expects a reduction in EBITDA of £10m in 2017.”