4th Oct 2019 18:12
(Alliance News) - Drax shares rose after Reuters on Friday reported the European Commission is set to give the go-ahead for UK power companies to receive a total of around GBP1 billion.
The EC is to provide power companies with extra funding to help them bear the cost of maintaining extra generation in case of outages, Reuters said citing three sources on Friday.
Drax shares closed up 14% at 285.80 pence, the best performer in the FTSE 250 on Friday.
https://uk.reuters.com/article/energy-eu-capacitymechanism/exclusive-european-commission-set-to-approve-uk-billion-pound-power-backup-plan-idUKL5N26P2SM
By Arvind Bhunjun; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Drax