Drax powers ahead
YORKSHIRE power generator Drax said today that it expects its results for 2010 to be ahead of market expectations despite challenges in the commodity markets.
The operator of Britain’s biggest coal-fired power station at Selby said in a pre-close statement that whilst commodity markets “remain challenging” it has benefited from a strong contracted position.
The company said: “Good operational performance has continued to allow us to take advantage of Drax Power Station’s reliability and flexibility to maintain a high load factor and improve profitability.
“As a result we now anticipate that full year profit before interest, tax, depreciation, amortisation (EBITDA) and underlying earnings per share for 2010 will be slightly ahead of current market consensus.”
The company will announce its end of year results in February.
