Drax Group provisionally secures capacity market agreements

Drax Group

Drax Group plc (LON:DRX) has confirmed that it has provisionally secured agreements to provide a total of 434MW of capacity (de-rated 402MW) principally from its pumped storage and hydro assets(1). The agreements are for the delivery period October 2028 to September 2029, at a price of £60/kW/year(2), with income of around £24 million in that period. These are in addition to agreements for existing assets which extend to September 2028.

T-4 auction – provisional results for refurbishing hydro asset

Drax has also provisionally secured an agreement to provide a total of 24MW of capacity (de-rated 22MW) for the refurbishment of Glenlee(3). The agreements are for the delivery period October 2028 to September 2043, at a price of £60/kW/year(2), with income of around £20 million in that period.

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Share on:
Find more news, interviews, share price & company profile here for:

Latest Company News

Drax Group declares 17.4p final dividend for FY2025

On 26 February 2026, Drax Group plc announced a proposed final dividend of 17.4 pence per share for the year ended 31 December 2025, subject to shareholder approval at the 2026 Annual General Meeting.

Drax reports 2025 results with record renewable generation and lower net debt

Drax Group reported record renewable generation in 2025, supplying 6% of UK power, alongside adjusted EBITDA of £947m and a 7% increase in adjusted EPS to 137.7p.

GB power system reform brings flexibility markets into sharper focus

GB electricity reform is sharpening the commercial opportunity in demand side flexibility and asset optimisation.

Drax Group’s Second Tolling Agreement Builds Momentum In Battery Storage, says Longspur Research

Drax Group signs second BESS tolling agreement as Longspur Research lifts valuation to 1093p on strengthened flexibility strategy.

Drax signs 15-year tolling agreement for 200MW battery storage at Coalburn

Drax Group has signed a 15-year tolling agreement with Zenobē Coalburn Limited for a 200MW (800MWh) four-hour battery energy storage system at Coalburn, Scotland, targeting commercial operation in 2028.

Demand side flexibility set to reshape UK energy markets

UK reforms are expanding demand side flexibility access, opening up new commercial opportunities in energy markets.

Search

Search