This is a Company with a major focus on the operation of a wood fired power station in Yorkshire.
The share price has done exceptionally well this calendar year. One can only suppose that it's a reaction to increased oil and gas prices.
Wood counts as renewable although doubts have been expressed once the energy costs of growing and transporting it are factored in.
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Drax Group PLC (DRX)
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No penny shares or promotional posts
No penny shares or promotional posts
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- Lemon Half
- Posts: 6134
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- The full Lemon
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Re: Drax Group PLC (DRX)
Q1 2023 Trading Update and £150 Million Share Buyback Programme.
https://www.investegate.co.uk/drax-grou ... 00094506X/
Ian (No holding).
Highlights
· Strong system support and generation performance during the first three months of 2023
· Closure of remaining coal units, decommissioning commenced April 2023
· 2023 Adjusted EBITDA(1) expectations in line with analysts' consensus estimates(2)
· Final dividend of 12.6 pence to be paid subject to shareholder approval at today's AGM
· Total dividend for 2022 - 21.0 pence per share (2021: 18.8 pence per share)
· £150 million share buyback programme to commence in Q2 2023
https://www.investegate.co.uk/drax-grou ... 00094506X/
Ian (No holding).
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- The full Lemon
- Posts: 11536
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Re: Drax Group PLC (DRX)
Drax response to Ofgem statement.
https://www.investegate.co.uk/announcement/7552078
Ian (No holding).
Drax notes the announcement today of an Ofgem investigation into Drax Power Limited's annual biomass profiling reporting under the Renewables Obligation scheme.
Ofgem's announcement states that the opening of an investigation does not imply any finding of non-compliance. It has separately confirmed that it has not established any non-compliance that would affect the issuance of Renewable Obligation Certificates (ROCs) to Drax, and therefore the associated financial benefit.
Like all energy generators, Drax receives regular requests from Ofgem and continues to cooperate fully throughout this process.
Last year Drax appointed a third party to independently verify the accuracy of its biomass sustainability and profiling data as part of an ongoing process. Drax is confident in the compliance of its biomass with the Renewables Obligation criteria.
https://www.investegate.co.uk/announcement/7552078
Ian (No holding).
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- The full Lemon
- Posts: 11536
- Joined: November 4th, 2016, 5:04 pm
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Re: Drax Group PLC (DRX)
Completion of Share Buyback Programme.
https://www.investegate.co.uk/announcem ... me/7762469
Ian (No holding).
Drax Group plc (the Company) announces that following the purchased ordinary shares on Friday 15 September 2023, the Company's £150 million share buyback programme, managed by J.P. Morgan Securities plc, which was announced on 26 April 2023, was completed in accordance with its terms. In aggregate between 18 May 2023 and 15 September 2023, the Company repurchased 26,426,259 ordinary shares.
https://www.investegate.co.uk/announcem ... me/7762469
Ian (No holding).
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- Lemon Quarter
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Re: Drax Group PLC (DRX)
This is disappointing:
https://www.bbc.co.uk/iplayer/episode/m ... al-exposed
My only (known) exposure to Drax is through my holding of EGL (Ecofin Global Utilities & Infrastructure).
https://www.bbc.co.uk/iplayer/episode/m ... al-exposed
My only (known) exposure to Drax is through my holding of EGL (Ecofin Global Utilities & Infrastructure).
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- The full Lemon
- Posts: 11536
- Joined: November 4th, 2016, 5:04 pm
- Has thanked: 2488 times
- Been thanked: 5859 times
Re: Drax Group PLC (DRX)
Track-1 expansion process update.
https://www.investegate.co.uk/announcem ... e-/7777802
Ian (No holding).
The Department for Energy Security & Net Zero ("DESNZ") has, as part of a market update to the sector held yesterday, set out an indicative position that large-scale Power BECCS (Bioenergy with Carbon Capture and Storage) projects be eligible to participate in an expansion of the Track-1 carbon cluster sequencing process.
As part of the update, DESNZ set out its draft expectation to run the Track-1 expansion and Track-2 processes in parallel, subject to T&S capacity and ministerial sign off. Following the designation of the Viking CCS cluster as a Track-2 cluster in July 2023, there are now two potential routes which could support the Drax Power Station BECCS project and wider CCS in the Humber region by 2030 - the East Coast Cluster and Viking CCS cluster.
DESNZ also set out an indicative timeline that shortlisted projects would commence negotiations from Autumn 2024. DESNZ will now receive feedback on its draft proposals pending further updates and the publication of final guidance in due course.
Will Gardiner, Drax CEO, said: "The Government's statements are a helpful step forward not just for BECCS in the UK, but for the wider fight against climate change. We can only reach net zero by investing in critical, new green technologies such as BECCS. I welcome the Government's draft position and urge them to progress with both Track-1 expansion and Track-2 processes in parallel this winter".
https://www.investegate.co.uk/announcem ... e-/7777802
Ian (No holding).
-
- The full Lemon
- Posts: 11536
- Joined: November 4th, 2016, 5:04 pm
- Has thanked: 2488 times
- Been thanked: 5859 times
Re: Drax Group PLC (DRX)
Trading Update - Strong System Support Performance.
https://www.investegate.co.uk/announcem ... te/7921398
Ian (No holding).
Highlights
· 2023 Adjusted EBITDA(1/2) and EGL(2) expectations in line with consensus estimates(3)
· Continued progress on UK BECCS - bridging mechanism consultation expected shortly
· Letter of Intent agreed for sale of up to one million tonnes of biomass to major European utility for projects including biofuels
· £150 million share buyback programme completed
https://www.investegate.co.uk/announcem ... te/7921398
Ian (No holding).
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