Drax Group plc is a UK-based renewable energy company. It produces and sells electricity mainly from sustainable biomass and hydroelectric power. Drax also makes biomass pellets in the US and Canada, which are used as a renewable alternative to fossil fuels. In the UK, it runs power stations and supplies electricity and gas to businesses. Drax also helps support electric vehicle use by installing and maintaining EV charging points.
Positives |
Growing demand for electricity, driven by electric vehicles and data centres. |
Biomass and hydroelectric can provide reliable green energy when the wind isn’t blowing or the sun isn’t shining |
Potential of BECCS technology, which generates power while capturing carbon dioxide from the air. |
Negatives |
Governments can regulate energy prices and introduce taxes and profits which can limit company profits and dividends. |
Some critics say biomass may release more greenhouse gases than fossil fuels. |
New projects and technology can require millions in investment, reducing profits or requiring increased borrowing. |