Capacity Market Agreements

RNS Number : 6870Q

Drax Group PLC

22 February 2023

 

22 February 2023

Drax Group plc

("Drax" or the "Company"; Symbol: DRX)

Capacity Market Agreements

T-4 auction - provisional results for existing pumped storage and hydro assets

Drax confirms that it has provisionally secured agreements to provide a total of 621MW of capacity (de-rated 588MW) principally from its pumped storage and hydro assets⁽¹⁾. The agreements are for the delivery period October 2026 to September 2027, at a price of £63/kW⁽²⁾, with income of around £37 million in that period. These are in addition to existing agreements which extend to September 2026.

Enquiries:

Drax Investor Relations: Mark Strafford

[phone]

Media:

Drax External Communications: Aidan Kerr

[phone]

Website: www.drax.com

Notes:

(1)  Cruachan Pumped Storage, the Galloway hydro scheme (Tongland, Kendoon and Glenlee) and three small legacy gas turbines at Drax Power Station (96MW, de-rated 91MW).

(2)  Capacity Market agreements stated in 2021/22 real-terms, with payments indexed to UK CPI.

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