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Drax


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Britain sets out funding model for renewable energy storage projects

UPDATE 1-Britain sets out funding model for renewable energy storage projects Adds company comment By Susanna Twidale LONDON, Oct 10 (Reuters) - Britain will offer developers of renewable energy storage projects, such as pumped hydro, a guaranteed minimum income to spur investment in technologies that help the country meet its climate targets. Britain is aiming to decarbonise its power sector by 2030. Meeting this target will require a large increase in renewable energy, such as wind and solar,
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UK’s Drax to invest up to $12.5 billion in US biomass power plants

UK’s Drax to invest up to $12.5 billion in US biomass power plants By Susanna Twidale LONDON, Sept 24 (Reuters) - British power generator Drax DRX.L could invest up to $12.5 billion developing biomass plants with carbon capture and storage (BECCS) in the United States over the next decade, it said on Tuesday. Drax, which generates around 6% of Britain's electricity, said it is still committed to the UK but sees opportunities in the U.S.
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Drax Commits $12.5 Bln For Us Power Plants As Group Is Lured By Ira Tax Breaks - FT

BRIEF-Drax Commits $12.5 Bln For Us Power Plants As Group Is Lured By Ira Tax Breaks - FT Sept 24 (Reuters) - DRAX COMMITS $12.5BN FOR US POWER PLANTS AS GROUP IS LURED BY IRA TAX BREAKS - FT Source text for Eikon: [ https://tinyurl.com/4caz85b7 ] Further company coverage: DRX.L
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UK Stocks-Factors to watch on Sept 19

UPDATE 1-UK Stocks-Factors to watch on Sept 19 Adds new items, updates futures Sept 19 - Britain's FTSE 100 .FTSE index is seen opening higher on Thursday, with futures FFIc1 up 0 .8%. * NEXT: British clothing retailer Next NXT.L said it was on track to make annual profit of almost 1 billion pounds ($1.3 billion) as it raised its outlook for the second time in two months after better-than-expected recent trading.
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Alcon, Rockwool, Zealand Pharma

EUROPE RESEARCH ROUNDUP- Alcon, Rockwool, Zealand Pharma Sept 10 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Alcon, Rockwool and Zealand Pharma, on Tuesday. HIGHLIGHTS * Alcon AG ALCC.S : RBC raises to outperform from sector perform * Maersk MAERSKb.CO : JP Morgan resumes coverage with underweight rating; target DKK 8,575 * Rockwool ROCKB.CO : HSBC raises target price to DKK 3,200 from DKK 3,100 * Wizz Air WIZZ.L : JP Morgan cu
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British Business - Aug 30

PRESS DIGEST-British Business - Aug 30 Aug 30 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - British power firm Drax Group DRX.L has come under further fire from environmentalists after it failed to report accurate sustainability data about the sourcing of the wood pellets it burns to generate electricity.
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UK's Drax Group rises on conclusion of Ofgem investigation

BUZZ-UK's Drax Group rises on conclusion of Ofgem investigation ** Shares of energy firm Drax Group DRX.L up 1.3% at 664p ** Ofgem closed investigation into Drax's biomass profiling data, confirming no evidence found that its biomass isn't sustainable ** Investigation has not found any evidence that Drax issued Renewable Obligation Certificates (RO
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UK's Drax to pay $33 mln after misreporting some biomass data

UPDATE 1-UK's Drax to pay $33 mln after misreporting some biomass data Updates throughout By Susanna Twidale LONDON, Aug 29 (Reuters) - Britain's energy regulator Ofgem said on Thursday power firm Drax DRX.L misreported some data about biomass imported from Canada and would pay 25 million pounds ($33 million) to Ofgem's voluntary redress fund. Drax, Britain's largest renewable power generator by output, has converted four coal-power units to use biomass and operates hydro power projects.
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UK energy regulator charges Drax Power with misreporting biomass profiling data

UK energy regulator charges Drax Power with misreporting biomass profiling data Aug 29 (Reuters) - Britain's energy regulator Ofgem said on Thursday power firm Drax DRX.L misreported biomass profiling data about the forestry type and sawlog content it used and will have to pay 25 million pounds ($33.1 million). Drax will make the payment to the regulator's voluntary redress fund.
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Drax To Resubmit CP20 Profiling Data For Canada

BRIEF-Drax To Resubmit CP20 Profiling Data For Canada Aug 29 (Reuters) - Drax Group PLC DRX.L : DRAX GROUP PLC - CLOSURE OF OFGEM INVESTIGATION DRAX GROUP PLC - RESUBMIT ITS CP20 PROFILING DATA FOR CANADA DRAX GROUP PLC - WILL MAKE A PAYMENT OF £25 MILLION INTO OFGEM'S VOLUNTARY REDRESS FUND DRAX: OFGEM HAVE CONFIRMED IT DID NOT FIND ANY EVIDENCE
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Ofgem Says Drax To Submit Payment For Industry Voluntary Redress Fund Of £25m

BRIEF-Ofgem Says Drax To Submit Payment For Industry Voluntary Redress Fund Of £25m Aug 29 (Reuters) - Drax Group PLC DRX.L : OFGEM: DRAX MISREPORTING DATA IN RELATION TO ANNUAL PROFILING SUBMISSION TO OFGEM FOR COMPLIANCE PERIOD 1 APRIL 2021 TO 31 MARCH 2022 OFGEM: DRAX HAS AGREED TO RE-REPORT THEIR CP20 ANNUAL PROFILING SUBMISSION IN RESPECT OF
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Admiral, Capgemini, Zurich Insurance Group

EUROPE RESEARCH ROUNDUP- Admiral, Capgemini, Zurich Insurance Group Aug 22 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Admiral, Capgemini and Zurich Insurance Group, on Thursday. HIGHLIGHTS * Admiral ADML.L : Jefferies raises to hold from underperform * Capgemini CAPP.PA : Jefferies cuts target price to EUR 185 from EUR 195 * Glenveagh Properties Plc GLV.I : Jefferies raises to buy from hold * Orsted ORSTED.CO : Deutsche Bank c
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Drax Group Enters New Sustainability-Linked £450M Revolving Credit Facility

BRIEF-Drax Group Enters New Sustainability-Linked £450M Revolving Credit Facility Aug 20 (Reuters) - Drax Group PLC DRX.L : DRAX GROUP PLC - NEW SUSTAINABILITY-LINKED £450M RCF DRAX GROUP PLC - COMPLETED REFINANCING OF ITS REVOLVING CREDIT FACILITY Source text for Eikon: ID:nRST9970Aa Further company coverage: DRX.L
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Bakkavor, Drax Group, Greggs

EUROPE RESEARCH ROUNDUP- Bakkavor, Drax Group, Greggs Aug 5 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Bakkavor, Drax Group and Greggs on Monday. HIGHLIGHTS * Bakkavor BAKK.L : HSBC raises target price to 170p from 150p * Drax Group Plc DRX.L : HSBC raises target price to 600p from 500p * Greggs GRG.L : HSBC cuts to hold from buy * Pennon Group PNN.L : Barclays cuts to equal-weight from overweight * United Utilities UU.L : Bar
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Jet2, Natwest Group, Unilever

EUROPE RESEARCH ROUNDUP-Jet2, Natwest Group, Unilever July 29 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Jet2, Natwest Group and Unilever, on Monday. HIGHLIGHTS * BAE Systems BAES.L : Citigroup raises to buy from neutral * Drax Group Plc DRX.L : Morgan Stanley raises target price to 670p from 650p * Jet2 Plc JET2.L : HSBC raises target price to 2020p from 1980p * Natwest Group Plc NWG.L : Berenberg raises target price to 415p
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British mid-cap stocks close at over two-year high on earnings optimism

UPDATE 1-British mid-cap stocks close at over two-year high on earnings optimism For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. FTSE 100 up 1.2%, FTSE 250 gains 2.3% US PCE in line with estimates Focus on Fed, BoE decisions next week Updated at 1620 GMT July 26 (Reuters) - British mid-cap stocks rallied to their strongest finish in more than two years on Friday, helped by a slew of upbeat company earnings reports and a rebound on Wall
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UK's Drax hits over 1-year high on sturdy H1 results, buyback

BUZZ-UK's Drax hits over 1-year high on sturdy H1 results, buyback ** Shares of power generator Drax DRX.L up 12.5% at 637.5 pence, its highest level since April 2023 ** Posts 37% growth in H1 pre-tax profits to 463 mln pounds ($595.3 mln) ** Also announces share buyback worth 300 mln pounds ** Sees 2024 adj core profit to be above analysts' consen
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UK Stocks-Factors to watch on July 26

UPDATE 1-UK Stocks-Factors to watch on July 26 Adds new items, updates futures July 26 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening higher on Friday, with futures FFIc1 up 0 .2%. * NATWEST: NatWest's NWG.L first-half pretax operating profit fell by a less-than-expected 16% to 3 billion pounds ($3.86 billion), it said, with margins hit by mortgage market competition and savers shifting deposits to higher-paying products.
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UK's Drax shares soar on profit rise, share buybacks

UPDATE 2-UK's Drax shares soar on profit rise, share buybacks Updates throughout with CEO comment, share price By Susanna Twidale July 26 (Reuters) - Shares in Drax DRX.L soared 15% on Friday morning after the British power generator posted a 37% rise in first-half profit and announced a 300 million pound ($386 million) share buyback programme. Britain's largest renewable power generator by output has converted four coal-power units to use biomass and operates hydro power projects.
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Drax Announces 300 Mln Stg Share Buyback

BRIEF-Drax Announces 300 Mln Stg Share Buyback July 26 (Reuters) - Drax Group PLC DRX.L : DRAX GROUP PLC: IMPROVED OUTLOOK FOR 2024 AND £300M BUYBACK DRAX GROUP PLC: INTERIM DIVIDEND OF 10.4 P/SHARE (H1 2023: 9.2 P/SHARE) DRAX GROUP PLC: EXPECTED FULL YEAR DIVIDEND UP 12.6% TO 26.0 P/SHARE (2023: 23.1 P/SHARE) DRAX GROUP PLC: FULL YEAR 2024 EXPECTATIONS FOR ADJUSTED.
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