11th Apr 2006 07:01
Drax Group PLC11 April 2006 11 April 2006 DRAX GROUP PLC ("Drax") (Symbol "DRX") DRAX SECURES POWER SALE TO 2012 WITH CENTRICA Drax has entered into an agreement with Centrica on standard market terms toprovide 600MW of baseload power for a 5 1/4 year period commencing October 2007.This equates to around 27.6TWh of power. The agreement provides Drax with fixed dark green spreads consistent with Drax'strading strategy. Drax will supply power at agreed prices which includeCentrica paying Drax for coal, based on international coal prices, anddelivering matching CO2 allowances. The volume of this baseload contract isequivalent to a load factor of approximately 16% for the period October 2007 toDecember 2012. Dorothy Thompson, Chief Executive of Drax said: "I am very pleased to announcethis agreement with Centrica. This transaction secures power sales into the termmarket whilst retaining Drax's optionality on how and when to dispatch power." Enquires: Investor RelationsAndrew Jones+44 (0) 1757 612 938 MediaTulchan CommunicationsDavid Trenchard and Peter Hewer+44 (0) 20 7353 4200 -- ENDS -- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DraxCentrica