9th Mar 2020 09:26
(Alliance News) - Power producer Drax Group PLC on Monday said it has provisionally obtained agreements to provide 2,562 megawatts of capacity for a total of GBP37 million between October 2023 and September 2024.
Shares in Drax were down 5.3% at 245.80 pence in London in morning trading.
The agreements set a price of GBP15.97 per kilowatt from "existing gas, pumped storage and hydro assets" and are in addition to previous agreements extending to September 2023.
The existing gas assets are Rye House in Hertfordshire, Shoreham in West Sussex, and Damhead Creek in Kent, as well as three small gas turbines located at Drax Power Station in Yorkshire. Other existing assets, both in Scotland, are the Galloway hydro scheme - containing Tongland, Kendoon and Glenlee - plus Cruachan pumped storage
Drax also said it has not accepted an agreement for the 60 megawatt combined cycle turbine located at Blackburn Mill.
"A new-build combined cycle gas turbine at Damhead Creek and four new-build open cycle gas turbine projects participated in the auction but exited above the clearing price and did not accept agreements," Drax added.
By Anna Farley; [email protected]
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