EnergyWatch

Drax takes huge loss on coal

Despite solid progress in the core business, impairments in the coal division have dealt a major blow to British utility Drax.

Photo: ritzau/Arkiv/Niels Hougaard

Revenue in the first half of the year rose by GBP 400 million (EUR 452 million) and earnings before tax and depreciations (EBITDA) almost doubled from GBP 70 million last year to GBP 120 million this year.

Yet not everything is going so well for British Drax, which has historically been one of Europe's major coal power plant owners. The company is currently in the midst of a green transition, and coal is forced to make way for biomass in particular. The effect is negative for the time being.

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