Drax Group plc (LON:DRX) has confirmed that it has provisionally secured agreements to provide a total of 434MW of capacity (de-rated 399MW) principally from its pumped storage and hydro assets(1). The agreements are for the delivery period October 2029 to September 2030, at a provisional clearing price of £27/kW/year(2), with income of around £11 million in that period. These are in addition to agreements for these existing assets which extend to September 2029.
Drax secures 434MW capacity agreement for 2029–2030 delivery
- Written by: Amilia Stone
Find more news, interviews, share price & company profile here for:
Latest Company News
Drax Group shares offer 47% potential upside according to Longspur Research, with data centre ambitions remaining attractive.
The UK's expanding renewable energy capacity is increasing pressure on the electricity grid, making investment in transmission, storage and flexible generation increasingly necessary to deliver power where and when it is needed.
Drax has introduced an interactive map to its Biomass Tracker, providing information on sourcing locations, transportation routes and carbon emissions, alongside updated first-quarter 2026 data.
Drax argues that energy investment can support local employment, skills and supply chains, while community acceptance also depends on how projects address environmental and local concerns.
Britain needs more than renewable generation to reshape its power system, and Drax is developing generation, storage and flexibility assets to address that need.
Drax Group sees stronger FY26 expectations as Longspur Research raises its EBITDA forecast following strong summer trading.
