Drax power station profits slip through 2009

Tuesday, 23 February 2010 23:47

Drax Group, operator of the south Selby power station has announced 2009 profits have suffered as a result of the weak economy.

Drax Power Station Drax Power Station Drax Group

 

Whilst the group recorded pre-tax profits of £158m, the figure showed a 64% drop from the £443m announced in the previous year.

 

The plant, responsible for supplying around 7% of the country's energy needs, expects the situation to improve during 2010.  A slump in UK gas prices over the past twelve months was cited as making generation of electricity by burning coal more expensive, leading to the reduced profit.

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