February 27, 2020 / 7:24 AM / a month ago

Britain's Drax to end coal power generation by 2021

LONDON, Feb 27 (Reuters) - British power producer Drax Group Plc is on track to close its coal generation in 2021, four years ahead of Britain’s 2025 deadline, the company said on Thursday as it released full-year results.

Almost 50 years of coal-fired electricity generation at Drax power station in North Yorkshire is expected to come to an end in March 2021, but the firm will ensure its two remaining coal units remain available until September 2022.

Drax, which has the capacity to provide electricity for around 13 million homes, has converted four of its six former coal-fired plants to use biomass wood pellets.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 64% to 410 million pounds ($533 million) for the year ended Dec. 31 from 250 million pounds a year earlier.

$1 = 0.7696 pounds Reporting by Nina Chestney; Editing by Edmund Blair

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below