Drax Group has announced plans to acquire UK-based energy optimisation firm Flexitricity in a £36 million deal, with the final purchase price expected to total approximately £42 million following working capital adjustments. The transaction is anticipated to close in the first quarter of 2026, subject to regulatory approvals under Ofgem and the National Security and Investment Act.
Flexitricity operates a proprietary digital platform that provides real-time optimisation and dispatch of flexible energy assets. These include battery storage, gas peaking plants, demand-side response services and renewable technologies. Currently, Flexitricity oversees a portfolio of around 900 megawatts of capacity, supported by artificial intelligence and machine learning algorithms designed to enhance operational efficiency and market responsiveness.
The integration of Flexitricity’s platform is expected to accelerate this trajectory by offering in-house capabilities to optimise not only Drax’s existing and future assets but also those of third parties. This introduces additional monetisation avenues through energy trading, grid balancing and ancillary services.
Drax Group plc (LON:DRX), trading as Drax, is a power generation business. The principal downstream enterprises are based in the UK and include Drax Power Limited, which runs the biomass fuelled Drax power station, near Selby in North Yorkshire.
