Capacity Market Agreements for Existing Coal Units

RNS Number : 4197E

Drax Group PLC

09 February 2018

 

9 February 2018

Drax Group plc

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

Capacity Market Agreements For Existing Coal Units

Drax confirms that it has provisionally secured agreements to provide a total of 1,217MW of capacity (de-rated from 1,382MW) from two existing coal units⁽¹⁾. The agreements are for the delivery period October 2021 to September 2022, at a price of £8.40/kW⁽²⁾ and are worth £10 million.

Two Open Cycle Gas Turbine (OCGT) projects participated in the auction but exited above the clearing price. Drax expects that these projects will now go on to participate in the next T-4 auction.

Enquiries:

Drax Investor Relations: Mark Strafford

[phone]

Media:

Drax External Communications: Ali Lewis

[phone]

Website: www.drax.com

Notes:

(1)   Units 5 and 6, plus three small existing gas turbines, all at Drax Power Station.

(2)   Capacity agreements stated in 2016 real-terms, with payments indexed to UK CPI.

END

 

END

 

 

MSCLIFERFAIAIIT