Drax’s first half results show that it continues to benefit from providing key system support and flexibility to the GB power market. Generation has been particularly strong with a volatile market and forward sales driving notable strong performance in the pumped storage and hydro assets. Pellet production has also shown some modest growth despite outages and the customer business is very much back on track post COVID. Going forward the company continues to make progress on the development of its US BECCS business with two new-build sites now selected and targeting c.6Mt of CO2 removal by 2030 adding to an overall target of 20Mt.
