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Drax Group plc ( (GB:DRX) ) has shared an announcement.
Drax Group has reached an agreement with the UK Government for a low-carbon dispatchable Contract for Difference (CfD) for its Drax Power Station, aimed at enhancing UK energy security post-2027. This agreement is expected to result in significant savings for consumers and reduce reliance on fossil fuels, positioning Drax as a cost-effective option for electricity generation during peak demand periods. The agreement also supports future investment opportunities in carbon removals and data centers, ensuring job protection and continued development in biomass and energy sectors.
More about Drax Group plc
Drax Group PLC operates in the energy sector, focusing on low-carbon and biomass energy solutions. The company is known for its Drax Power Station, the UK’s largest power station, which plays a crucial role in providing renewable energy and supporting UK energy security.
YTD Price Performance: -2.01%
Average Trading Volume: 1,322,731
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: £2.32B
For detailed information about DRX stock, go to TipRanks’ Stock Analysis page.
