26th Jan 2016 08:21
LONDON (Alliance News) - Power plant operator Drax Group PLC on Tuesday noted more detail from the European Commission's investigation into the state aid the group will get for converting its coal-fired stations to biomass.
Drax said the report from the EC has confirmed the strike price for power from the biomass plant was set at GBP100 per kilowatt hour, in line with market expectations.
It added it welcomed the opportunity to work with the UK government and the EC to complete the process of securing the state aid it will need to convert its power stations.
Drax shares were down 3.6% to 218.6 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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