Drax Group CEO comments on European carbon pricing declaration - Drax

Drax Group CEO comments on European carbon pricing declaration

Will Gardiner issues comments as Drax Group joins global companies calling for more action to support a strong and predictable carbon price.

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Publication of Circular and Notice of General Meeting in relation to proposed acquisition of flexible, low-carbon and renewable UK power generation from Iberdrola
5th December 2018

Publication of Circular and Notice of General Meeting in relation to proposed acquisition of flexible, low-carbon and renewable UK power generation from Iberdrola

On 16 October 2018, Drax Group plc (“Drax” or the “Company”) announced that it had entered into a binding conditional agreement to purchase Scottish Power's portfolio of pumped storage, hydro and gas-fired generation for £702 million in cash from Iberdrola (the “Acquisition”).

“Robust carbon pricing is one of the most effective tools to enabling a zero carbon, lower cost energy future. 

Will Gardiner, CEO, Drax Group

“Since the introduction of the UK’s carbon floor price in 2013, coal use has reduced by almost 75% and renewables capacity has tripled. 

“Going forward, it is vital that Governments across Europe and the EU target a strengthened carbon price in order to meet our Paris Agreement climate change targets.”

Download the declaration.