RNS Number : 5553C
Drax Group PLC
23 February 2022
T-4 auction – provisional results for existing pumped storage and hydro assets
Drax confirms that it has provisionally secured agreements to provide a total of 621MW of capacity (de-rated 586MW) principally from its pumped storage and hydro assets(1). The agreements are for the delivery period October 2025 to September 2026, at a price of £30.59/kW(2), with income of around £18 million in that period. These are in addition to existing agreements which extend to September 2025.
Enquiries:
Drax Investor Relations: Mark Strafford
Media:
Drax External Communications: Aidan Kerr
Website: www.drax.com
Notes:
- Cruachan Pumped Storage, the Galloway hydro scheme (Tongland, Kendoon and Glenlee) and three small legacy gas turbines at Drax Power Station (96MW, de-rated 92MW).
- Capacity Market agreements stated in 2020/21 real-terms, with payments indexed to UK CPI.
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