Drax takes £10m hit from power station outage

Shares of North Yorkshire-based power company Drax Group fell more than 4% after it said biomass deliveries are currently restricted after an unplanned outage on the rail unloading facilities at Drax Power Station.

Drax said: “Reflecting the outage and reduced generation on the ROC (renewable obligation certificate) units, Drax currently expects a reduction in EBITDA of £10 million in 2017.”

Drax added: ” … in order to optimise available supplies, generation on the two ROC units has been reduced.

“These two units will then be taken offline for a short period.

“The CfD (contract for difference) unit and coal operations remain unaffected.

“The outage on the rail unloading facilities is currently expected to be completed during January 2018, at which point the ROC units should return to service.”