Drax Power CEO Andy Koss responds to Skipton to Colne rail route announcement - Drax

Drax Power CEO Andy Koss responds to Skipton to Colne rail route announcement

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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”).

Andy Koss, Drax Power CEO, said:

“Re-opening the Skipton to Colne route to rail freight as well as passenger travel would have a significant impact for business across the North of England, slashing travel times and increasing productivity in the process.

“It will have a direct impact on improving our supply chain at Drax, allowing freight trains to travel much more quickly to the power station in North Yorkshire – reducing journey times from the Port of Liverpool to less than three hours, a journey which can take up to nine hours at the moment.

“As a nation we can benefit from a fast, efficient railway that allows more free movement of goods between manufacturers, their distribution hubs and their markets across the north of England and beyond.”