Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksDrax Share News (DRX)

Share Price Information for Drax (DRX)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 492.20
Bid: 487.60
Ask: 488.40
Change: -7.80 (-1.56%)
Spread: 0.80 (0.164%)
Open: 490.60
High: 502.00
Low: 485.40
Prev. Close: 500.00
DRX Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Industrial action will not lead to power cuts, Drax insists

Wed, 08th Feb 2023 08:30

(Sharecast News) - Drax Group has insisted that the UK's electricity supply will not be affected after workers voted in favour of industrial action.

Unite has announced nine strike days, starting on 20 and 27 February and continuing through March into April.

Members voted in favour of industrial action after rejecting an 8% pay offer. The union argued that with inflation at record highs, the offer represented a real terms pay cut.

London-listed Drax can generate around 7% of the UK's electricity when fully operational, and Unite warned on Wednesday that industrial action would "close Drax down", leading to possible power cuts.

Regional officer Shane Sweeting said: "The strike action at Drax will inevitably cause considerable strain on the National Grid, but this dispute is completely of the company's own making."

However, Drax insisted the electricity supply would not be affected. A spokesperson told Reuters: "In the event of industrial action, Drax has robust plans in place to ensure the power station continues to safely generate renewable electricity for millions of homes and businesses."

Unite represents around half of Drax's 471 production staff, the firm added.

More News
1 Jul 2021 11:18

Drax increases stake in Alabama Pellets in USD29.7 million deal

Drax increases stake in Alabama Pellets in USD29.7 million deal

Read more
1 Jul 2021 07:29

Drax lifts Alabama Pellets stake to 90% for $29.7m

(Sharecast News) - Renewable energy company Drax has lifted its stake in the US Alabama Pellets joint venture to 90% for $29.7m.

Read more
30 Jun 2021 00:01

World must remove 1 bln tonnes CO2 by 2025 to meet climate goal - report

By Susanna TwidaleLONDON, June 30 (Reuters) - Projects in development will remove only a fraction of the amount of carbon dioxide (CO2) from the air that needs extracting by 2025 to meet the global Paris climate target and avert catastrophic warmi...

Read more
28 Jun 2021 09:35

BROKER RATINGS: HSBC raises Dr Martens, cuts St James's Place and M&G

BROKER RATINGS: HSBC raises Dr Martens, cuts St James's Place and M&G

Read more
24 Jun 2021 09:49

UK's Drax seeks planning permission for new pumped hydro plant

LONDON, June 24 (Reuters) - British power producer Drax Group said on Thursday it would seek planning permission to build a new 600-megawatt underground pumped hydro storage power station at its Cruachan facility in Scotland.Drax already has a 440...

Read more
10 Jun 2021 00:01

UPDATE 1-UK's Drax signs deal with MHI for negative-emissions capture technology

(Adds detail, paragraph 6)By Nora BuliJune 10 (Reuters) - Drax Group has signed a long-term deal for carbon capture technology with Japan's Mitsubishi Heavy Industries (MHI), paving the way for negative emissions from its UK plant by 2030, the fir...

Read more
10 Jun 2021 00:01

UK's Drax signs deal with Mitsubishi for negative-emissions capture technology

By Nora BuliJune 10 (Reuters) - Drax Group has signed a long-term deal for carbon capture technology with Japan's Mitsubishi Heavy Industries (MHI), paving the way for negative emissions from its UK plant by 2030, the firms said on Thursday.By ap...

Read more
4 Jun 2021 15:08

Drax, Bechtel team up to look into new bioenergy/carbon capture plants

LONDON, June 4 (Reuters) - Britain's Drax Group and U.S. engineering company Bechtel have teamed up to identify opportunities to build new bioenergy with carbon capture and storage (BECCS) power plants around the world, they said on Friday.BECCS ...

Read more
2 Jun 2021 13:19

Wednesday broker round-up

(Sharecast News) - Tate & Lyle: Berenberg upgrades to buy with a target price of 855p.

Read more
17 May 2021 09:57

Citi upgrades Drax, Centrica

(Sharecast News) - Citi upgraded its stance on shares of Drax on Monday to 'buy' from 'neutral' following the recent UK power price rally of more than 20% in the last month.

Read more
7 May 2021 15:53

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
21 Apr 2021 10:48

Drax targets biomass growth after "robust" first-quarter trading

Drax targets biomass growth after "robust" first-quarter trading

Read more
15 Apr 2021 14:58

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
13 Apr 2021 09:42

Drax completes acquisition of Canadian firm Pinnacle Renewable Energy

Drax completes acquisition of Canadian firm Pinnacle Renewable Energy

Read more
13 Apr 2021 09:33

UK's Drax completes acquisition of Pinnacle Renewable

LONDON, April 13 (Reuters) - British power producer Drax said on Tuesday it completed its purchase of Canada-based Pinnacle Renewable Energy Inc, a producer of compressed bioenergy pellets.The acquisition will increase Drax’s annual operational c...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.