Drax delivers ‘strong operational performance’ in challenging year

Drax Power Station
Drax Power Station
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DRAX today said it had delivered a strong operational performance in a challenging year.

Drax, which was publishing its full year results for 2015, said that a severe market deterioration and difficult regulatory challenges had been mitigated by strong operations.

The company said its biomass transformation investment programme was on schedule and on budget.

Dorothy Thompson, the chief executive of Drax, said: “In a challenging year we have delivered another strong operational performance and realised our vision to become a predominantly biomass fuelled generator.

“We are clear on the challenges ahead and how we will respond. The fastest, most affordable and safest way to reduce carbon emissions is to further deploy the world leading biomass technology Drax has pioneered to upgrade more of the UK’s existing coal fired power stations to sustainable biomass

“With the right support framework, we stand ready to help the UK decarbonise further.”

In a statement, Drax said its EBITDA for 2015 was down 26 per cent at £169m. Drax said the 2015 EBITDA was in line with guidance, despite the market deterioration and the regulatory challenges.