Biomass outage at Drax Power Station reduces profit expectations

Drax Power Station has this morning announced that an unplanned outage on the rail unloading facilities for biomass deliveries will result in a drop in its profits.

The outage has led to deliveries being restricted and, in order to optimise available supplies, generation on two biomass units has been reduced.

Drax said that due to the outage, it expected a reduction in EBITDA of £10m in 2017; cutting profit expectations by a third. Its share price slumped 8% as the markets opened... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...